Budapest (The Brussels Morning Newspaper) – EU Commissioner Oliver Varhelyi emphasized that Ukraine must continue reforms for EU accession to receive additional aid. The European Commission plans to support Ukraine with up to €50 billion.
Ukraine is required to continue extending reforms required for its European Union accession to ensure additional financial aid from Brussels, EU Commissioner for Neighborhood and Enlargement Oliver Varhelyi stated.
“To fully comply with all membership criteria, Ukraine must remain committed to this process and continue its reforms, and here I want to underline the key role that the rule of law fundamentals play,” Varhelyi stated in Budapest, adding, “Enlargement is and stays a merit-based process.”
How Much Financial Aid Will the EU Provide Ukraine?
The European Commission intends to increase its financial support for Ukraine, supplying the country with up to 50 billion euros ($54.2 billion) in loans funded by frozen Russian state assets from 2024-2027, the Hungarian diplomat stated in a conference on the State of Play of the Western Balkan and Eastern Enlargements of the European Union.
“Two weeks ago, on July 17, the EU Commission made a positive assessment to release the first regular instalment under the Ukraine Facility, which was close to 4.2 billion euros. All in all, we plan to pay 16 billion euros to Ukraine’s budget in 2024, subject to the country fulfilling the reform conditionalities,” Varhelyi stated.
What Is the Timeline for Ukraine’s EU Membership Talks?
Ukraine is one of the nine states in Europe that does not have official membership in the European Union, placing as a candidate state alongside Moldova, which was given by the bloc in June 2022. However, both countries have to abide by several strict requirements to begin accession talks for potential EU membership. In December 2023, EU leaders arranged to open accession negotiations with Ukraine and reconfirmed their obligation to continue strong support to the land and its people as long as it takes.
How Is Ukraine’s EU Accession Process Progressing?
The EU formally extended accession negotiations with Ukraine at the first Intergovernmental Conference in June 2024. Work is underway to organise talks in specific areas, based on the negotiating framework which summarises the procedure and principles for the negotiations.
“Europe is in the eyes of all Ukrainians who fight for a better future. And together, we can win this fight. Together, we can complete our Union. Together, we can bring Ukraine to our common European home. This is the dream of Ukraine’s heroes and Ukraine’s martyrs. And it is our dream, too. Together we are Europe” Ursula von der Leyen, President of the European Commission said.
