EU fails to agree $54bn aid for Ukraine after Hungary veto

Hungary has vetoed $55 billion in the European Union’s aid for Ukraine, in a double blow to Kiev as US funds are currently blocked in Congress amid resistance from Republican senators.

European leaders failed to reach a deal on a long-term financial package to Ukraine in talks that extended into the early hours of Friday since Prime Minister Viktor Orban opposed the proposal.

The other states of the 27-member bloc agreed to provide the aid to Ukraine from EU coffers through 2027. The decision needs the unanimous backing of all EU leaders.

Orban took to social media after the meeting on Friday, saying, “Summary of the nightshift: veto for the extra money to Ukraine, veto for the MFF (EU long-term budget) review. We will come back to the issue next year in the European Council after proper preparation.”

The President of the European Council Charles Michel told reporters early on Friday that all 26 EU countries, bar Hungary, had come to an agreement on “all components” of the budget revision, including the cash for Ukraine.

Leaders in the meeting agreed to revisit the issue next month.

The Hungarian prime minister insisted that any assistance to Kiev should be for a shorter term and pending renewal after review. He also called on Brussels to devote its resources to making peace with Russia.

“The money for Ukraine in the short term is already in the (EU) budget. If we would like to give longer-term and bigger money, we have to manage outside the (EU) budget. And we support it,” he said before the veto.

The veto came hours after the union agreed to open formal membership negotiations for Ukraine. 

Orban stepped out of the negotiation room for a short while, as officials said it was planned and positive, and the other 26 leaders proceeded with the vote.

He told Hungarian state radio on Friday that he had fought for eight hours to stop his EU partners but could not convince them. Ukraine's path to EU membership would be a long process anyway, he added, adding that parliament in Budapest could still stop it happening if it wanted to.

Russia says fresh US aid to Kiev will be 'fiasco'

Russia says any further United States military aid to Ukraine will be a “fiasco.”

Russian President’s spokesman Dmitry Peskov congratulated Hungary for blocking the aid, saying, “Hungary, in contrast to many European countries, firmly defends its interests, which impresses us.”

EU's failure to seal the deal comes as Ukrainian President Volodymyr Zelensky failed this week to persuade US Republicans to approve an additional $61 billion for his government.

Government officials in Ukraine say Kiev could face a budget deficit of $43.58 billion in 2024, with a single day of its war with Russia costing $136 million.

Ireland’s prime minister Leo Varadkar also warned on Thursday that Ukraine “will not stand without support and ongoing support from both the European Union and the US.”

But Kremlin's spokesman said earlier this week that “tens of billions of dollars” already provided by Washington had failed to turn the tide of war and that more money would make little difference.

Nearly two years into the war in Ukraine, the Biden administration has provided Ukraine with more than $44 billion in military assistance.

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