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European Commission president Ursula von der Leyen speaks today at the World Economic Forum Alamy Stock Photo
Ukraine

EU chief says Ukraine needs 'predictable financing' as questions swirl over future support

Questions are swirling over future support from the United States and EU.

EUROPEAN COMMISSION PRESIDENT Ursula von der Leyen has said Ukraine’s allies need to guarantee stable backing for Kyiv as questions swirl over future support from the United States and EU.

“Ukraine can prevail in this war. But we must continue to empower their resistance,” the head of the European Union’s executive arm told the World Economic Forum in Davos.

“Ukrainians need predictable financing throughout 2024 and beyond. They need a sufficient and sustained supply of weapons to defend Ukraine and regain its rightful territory.”

EU leaders will hold a summit on 1 February to try to overcome a block from Hungary on providing €50 billion in financial aid to Ukraine over the next four years.

The government in Kyiv desperately needs the funds to prop up its economy and keep services working as Russia’s all-out war heads towards its second anniversary.

Budapest – Moscow’s closest ally in the 27-nation EU – has signalled it could agree to the aid if it is given the chance each year to veto further payments.

EU officials say that if they cannot win over Hungary, the other 26 member states will look to provide cash outside the EU’s budget, but this would likely be for a shorter timeframe.

The debate in Europe comes as Ukraine’s other major backer, the United States, struggles to approve a $60 billion (€55b) aid package in the face of opposition from Republicans in Congress.

However, US Secretary of State Antony Blinken promised sustained support for Ukraine in a meeting with President Volodymyr Zelenskyy.

u-s-secretary-of-state-antony-blinken-looks-on-during-meeting-with-rwandan-president-paul-kagame-right-at-the-annual-meeting-of-world-economic-forum-in-davos-switzerland-tuesday-jan-16-2024-t U.S. Secretary of State Antony Blinken pictured today at the World Economic Forum Alamy Stock Photo Alamy Stock Photo

“We are determined to sustain our support for Ukraine and we’re working very closely with Congress in order to work to do that. I know our European colleagues will do the same thing,” Blinken told Zelenskyy as they met at the World Economic Forum in Davos.

Zelenskyy thanked the Biden administration and the “bipartisan support” in the US Congress.

“You mentioned about Congress. We really count on your support – continuing your huge support,” Zelenskyy said.

He pointed specifically to the US-made Patriot system that has helped Ukraine shoot down barrages of Russian missiles.

“It really helps people to survive this, in this large aggression from Russia,” Zelenskyy said.

ukrainian-president-volodymyr-zelenskyy-centre-attends-a-meeting-with-u-s-secretary-of-state-antony-blinken-not-seen-at-the-annual-meeting-of-world-economic-forum-in-davos-switzerland-tuesday Ukrainian President Volodymyr Zelenskyy attends meeting with U.S. Secretary of State Antony Blinken at the World Economic Forum Alamy Stock Photo Alamy Stock Photo

The United States has sent some $44 billion (€40b) in military aid to Ukraine since Russia invaded in February 2022 and billions more in economic support and assistance to allies.

The Biden administration released a final package at the end of December under the funding approved by Congress.

Members of the rival Republican Party, which controls the House of Representatives, are holding up the assistance in an unrelated dispute as they press for tougher action against migrants entering the United States.

Some Republicans – notably Donald Trump, the former president and front-runner to challenge Biden in November elections – are sceptical of the aid, believing that it is wasteful and that Ukraine is unlikely to make further gains.

Despite the concerns over funding and Ukraine’s failure to make a breakthrough on the battlefield, von der Leyen said Russia was still “failing on strategic goals”.

“Russia has lost roughly half of its military capabilities. Ukraine has driven Russia out of half the territories it had captured. Ukraine has pushed back Russia’s Black Sea Fleet,” she said.

“Russia’s failure is also economic. Sanctions have decoupled its economy from modern technology and innovation. It is now dependent on China.”