Ursula von der Leyen: EU to Provide €50 Billion for Ukraine with or without Hungary

Ursula von der Leyen said that the European Union would find a way to override Viktor Orban's veto and approve a €50 billion special assistance fund for Ukraine if necessary.

The package, which is intended to provide Kyiv with financial support until 2027 and close the government's growing public deficit, is being delayed again under the pretext of new demands on the EU, with yet another blackmail from Hungary.

EU leaders are meeting again on 1 February to try again the so-called mechanism for Ukraine.

"I think it is very important to work with all 27 member states of the European Union to get 50 billion euros for four years for Ukraine," the European Commission President told a group of media during the World Economic Forum in Davos, Switzerland.

"My personal priority is the 27 (countries) agreement. And if that is not possible, we are ready for a 26-nation deal," the Commission President said.

"But I strongly support and prefer an agreement to 27," she added.

Ursula von der Leyen stressed that the EU remembers when Russia invaded Ukraine, many feared that Kyiv would fall in just a few days and the rest of the country in a few weeks. This did not happen. Instead, Russia lost about half of its military capabilities. Ukraine pushed Russia out of half of the territories it had seized. Ukraine rejected Russia's Black Sea Fleet and opened a sea corridor for the delivery of grain to the world. And Ukraine retained its freedom and independence. Russia's failure is also economic. Sanctions have cut its economy off from modern technology and innovation. Now Russia is dependent on China. Finally, Russia's failure is also diplomatic. Finland has joined NATO. Sweden will soon follow. And Ukraine is closer than ever on its path to the European Union.

If Orban does not withdraw his veto on aid to Ukraine, he will prompt the EU to use the so-called Article 7 procedure to suspend Hungary's voting rights in the European Council.

At the same time, about 20 billion euros remain frozen for Hungary. Their disbursement has been suspended for reasons that include EU concerns over LGBTIQ rights, academic freedom and asylum rights. Some are blocked under the conditionalities mechanism. And they will remain blocked until Hungary fulfils all the necessary conditions.