On Monday 23 October, the EU ‘Foreign Affairs’ Council was unable to approve the eighth tranche of the European Peace Facility (EPF).
Despite the withdrawal of the Hungarian bank OTP from the Ukrainian list of international sponsors of the war, the Hungarian authorities have not given their agreement to release this new tranche of €500 million.
“We have not yet solved the problem of the eighth tranche, we are continuing to look for a solution and, one way or another, we will find it”, promised the EU High Representative for Foreign Affairs, Josep Borrell.
The High Representative pointed out that the leaders, at their European Council meeting on 26 and 27 October, should give their views on his proposal for a four-year, €20 billion component for Ukraine within the EPF.
The ministers also discussed Ukraine’s medium- and long-term security commitments. “We have proposed a holistic approach that combines traditional military assistance with other elements based on cyber security and strengthening Ukrainian resilience on all fronts, from the economic front to the industrial front”, explained Mr Borrell. The European Council is also set to address this issue. According to draft conclusions, leaders will ask the High Representative to make progress on security commitments.
On the same day, the Ukrainian Prime Minister, Denys Shmyhal, announced that Ukraine had received the ninth tranche of EU financial aid, amounting to €1.5 billion. “Financial support from the EU is one of the most important factors helping us to be economically strong. In total, EU budget support for Ukraine in 2023 already amounts to €15 billion”, he explained on X (formerly Twitter). See the draft conclusions of the European Council dated 22 October: https://aeur.eu/f/97p (Original version in French by Camille-Cerise Gessant)