Saturday, 21 May 2022
WorldEU returns $520 million to Ukraine

EU returns $520 million to Ukraine


BRUSSELS

The EU’s foreign policy chief Josep Borrell announced on Friday that the EU would offer another EUR500 million (USD520 million) in military aid to Ukraine.

Speaking on his way to the G7 foreign ministers meeting in Weissenhaus, Germany, Borrell said he would announce that the European Union was providing “EUR500 million military support for Ukraine.”

The new additions will bring the block’s contribution to a total of $2 billion.

He explained that EU foreign ministers should have approved military assistance at their reunion in Brussels.

Borrell added that he would bring “a new political impetus for a deal” to impose an oil embargo on Russia amid deadlocked negotiations on the European Commission’s proposal for a 6th sanctions package.

He stressed that the bloc would continue to pressure Russia to end the war in Ukraine, with economic sanctions isolating the country internationally.

Russia’s war in Ukraine, which began in February, has left thousands dead or injured, and forced 6 million people to flee abroad.

Moscow called its actions a “special military operation” to “demilitarize” and “denazify” Ukraine.

For Western countries, however, this is a war of aggression and they have imposed heavy sanctions in response, including bans on Russian state media, asset freezes, as well as excluding banks from the SWIFT international payments system.

In addition, the EU has provided Ukraine with humanitarian assistance, macro-finance assistance as well as budgetary support.

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