Costa: Ukraine Could Receive €17 Billion By Year’s End, Conditional On Reforms

European Council President António Costa declared that the European Union plans to support Ukraine financially in 2027, while urging other nations to boost assistance to keep pressure on Russia. Speaking at the European Parliament in Strasbourg, Costa highlighted the outcomes of the recent European Council meeting, according to UATV English.

Costa stressed that the EU's commitment to aid Ukraine and its citizens remains stronger than ever. He revealed that €16 billion has already been allocated in the defense segment of the Ukraine Support Loan this year, with an additional €17 billion in budget support also being provided. However, these funds are contingent upon Ukraine implementing the required reforms.

Costa affirmed that Europe will ensure the necessary funding for Ukraine's requirements as stipulated for 2027. He emphasized that Europe and its member states currently handle 80% of the external assistance given to Ukraine, stressing the need for other international partners to intensify their efforts. Costa expressed his confidence that the EU's pursuit of peace must be matched with persistent pressure on the aggressor state.

He cautioned that any genuine efforts toward peace are vital, but Russia's actions, on the contrary, indicate an unwarranted escalation, urging Moscow to halt this perilous escalation.

Costa underscored that Russia's hybrid war, sabotage acts, and incursions into European airspace and territorial waters confirm the inextricable link between Ukraine's and Europe's security. He reiterated that the EU will execute its defense strategy and bolster its capacity to safeguard its people and vital infrastructure. Their objective remains unchanged: a fair and enduring peace that respects Ukraine's sovereignty and security, Costa emphasized.