Russia's war on Ukraine a 'huge issue' for EU as Putin's ambitions are 'much more far-reaching'
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European Union leaders unanimously agreed on Thursday to extend 50 billion euros ($54 billion) in new aid to Ukraine, the chairman of the summit said, overcoming weeks of resistance from Hungary. Before the summit started, EU leaders piled pressure on Hungary to lift its block, telling Prime Minister Viktor Orban he had to pick sides in the existential challenge posed by Russia's war. Ukraine's President Volodymyr Zelenskiy welcomed the agreement, saying the aid would strengthen long-term economic and financial stability of his country as the war with Russia approaches its third year. Ukraine's dollar bonds gained on the news. Kyiv, which relies heavily on Western aid as it fights Moscow, said it expected to receive the first tranche of 4.5 billion euros from the EU in March. The agreement comes after weeks of wrangling with Orban, who vetoed the aid package last December. Diplomats told Reuters that, in exchange for the green light from Hungary for the Ukraine aid, the bloc did not commit to releasing any of the billions of euros of EU funds intended for Hungary but frozen by Brussels over concerns about human rights and the rule of law in the country. They said the deal included a yearly discussion of the package and the option to review it in two years "if needed" but no veto rights for Budapest. Leaders of Germany, Poland, Belgium and Finland were among others arriving at the summit to say it was crucial the 27-nation bloc agreed as one to offer aid to Kyiv from their joint budget through 2027. Orban, who has cultivated close ties with Moscow, has stepped up criticism of the EU's strategy to prop up Ukraine with financial and military aid as Russia's war against its neighbour nears the two-year mark. On Thursday, Orban did not speak to journalists on arriving at the summit to decide on EU strategy on the biggest conflict in Europe since World War Two. For in-depth analysis and a deeper perspective on Russia's war on Ukraine and the EU Summit that has extended crucial financial and military aid for Ukraine, FRANCE 24's Genie Godula is joined by Natia Seskuria, Associate Fellow at the Royal United Services Institute and Lecturer in Russian Politics.