The European Union has unblocked a financial support package for Ukraine worth €90 billion for two years. The first funds may become available as early as May–June.
This was announced by President of Ukraine Volodymyr Zelenskyy, who said the decision is important for the country’s defense and its relations with the European Union.
According to him, the aid package will strengthen Ukraine’s army, ensure the country’s resilience, and allow it to meet social obligations to citizens as defined by law. Ukraine, the president noted, has maintained such financial certainty for more than four years of full-scale war.
Zelenskyy added that work is ongoing to ensure the first tranche becomes available in the coming months. The funds are expected to be used, in particular, for weapons production, procurement of necessary arms from partners, and preparation of the energy sector and critical infrastructure for the next winter.
He also said that further sanctions pressure on Russia will be discussed with partners during meetings in Cyprus. According to him, the 20th sanctions package has been unblocked and should be followed by additional restrictive measures.
Ukraine will also continue working with partners on a new cooperation format, Drone Deals, which has already proven effective in the Middle East and the Gulf region.