EU working on EUR 8B macro-financial aid package for Ukraine - Borrell

The European Union is developing a package of EUR 8 billion macro-financial assistance for Ukraine.

Josep Borrell, High Representative of the EU for Foreign Affairs and Security wrote this in his blog. According to Ukrinform, the relevant text was published on the website of the European External Action Service.

“The EU has been on the side of the Ukrainians, right from the start of the war, aware that our shared security is at stake. We have adopted six packages of ever more significant sanctions. We have, for the first time ever, financed the delivery of military support to a country under attack, to enable Ukraine to fight back. We are providing humanitarian support and macro-financial assistance, to keep the Ukrainian state afloat. In total, €9.5 billion have been mobilised by Team Europe so far, with up to €8 billion in additional macro-financial assistance in the pipeline,” he wrote.

Borrell noted that Russia’s war against Ukraine is not “just” a European war, neither in terms of the principles involved nor its concrete effects. “In a world where a bigger country can just invade its neighbour and violate the principle of the non-use of force in such a blatant manner, everyone would be less safe. This war is sending massive ripple effects around the world. Most strikingly, it has sent prices for energy and food through the roof. And as usual, those least able to cope are the ones suffering the greatest burden,” he wrote.

“And we have formally decided that we want Ukraine to become a future member of the EU, as part of our family. The EU and Europe are changing in profound ways because of this war,” Borrell wrote.

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