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EU agrees €50bn support package for Ukraine

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The EU has agreed a deal on a €50bn financial support package for Ukraine after Hungarian Prime Minister Viktor Orbán rescinded his veto on the aid.

The compromise on the aid, which Kyiv says is critical for its financial stability following Russia’s invasion, was reached at the start of an emergency EU summit at which other leaders piled pressure on Orbán.

Officials had warned of an irreparable rupture within the bloc if the Hungarian leader maintained his veto on the €50bn package.

“We have a deal,” Charles Michel, president of the European Council, said on X. “All 27 leaders agreed.”

He added: “This locks in steadfast, long-term, predictable funding for Ukraine.”

The agreement includes a provision for EU leaders to hold an annual debate on the implementation of the aid package, and the potential for a review in two years.

In efforts to find a compromise, Orbán held private talks with Michel, European Commission president Ursula von der Leyen and the bloc’s three most powerful leaders — German Chancellor Olaf Scholz, French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni.

“Orban came to his senses,” said one EU diplomat briefed on the negotiations.

This is a developing story

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