PRAGUE -- EU Budget Commissioner Johannes Hahn has asked EU member states to step up their financial support to Kyiv next year because Russia's war in Ukraine “is very likely" to continue.
Speaking to RFE/RL in Prague ahead of an informal meeting of EU finance ministers, Hahn confirmed that a 5 billion euro ($5.02 billion) loan tranche to Ukraine will be formally agreed upon in the coming days and that he hoped an additional 3 billion euros, possibly in grants, would be provided to Kyiv before the end of the year.
"There has to be more in the pipeline, because the financial needs of Ukraine until the end [of the year] is another 3 billion [euros]," Hahn said.
Hahn added that the additional funds had already been proposed to the European Commission and expressed confidence that they would be approved by EU member states.
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EU Commissioner: ‘We Have An Obligation To Support Ukraine’
A first tranche of 1 billion euros was already disbursed this summer, meaning that a total of 9 billion euros of financial aid from Brussels could go to Kyiv before the end of this year.
The bigger question is about the provision of long-term financial aid to Ukraine as it continues to fight a devastating war with Russia after Moscow launched a full-scale invasion in February.
The vast majority of the EU budget has already been set aside for other commitments, with Hahn hinting that, in the future, funds must come from the coffers of individual member states.
“The real question indeed is how to finance Ukraine in case -- and it's very likely the case -- that the war is ongoing in the new year," Hahn said. "We have to support Ukraine because Ukraine is defending not only themselves but also us, our values.”
Hahn said that the needed funding for Ukraine cannot be provided from the current EU budget and will require "an extraordinary effort."
The budget commissioner also acknowledged that skyrocketing energy prices and inflation in the EU could have an impact on how willing the bloc would be when it comes to providing additional financial support to Kyiv.
"Of course, people are very much focused on how to serve their electricity bills," he said. "But nevertheless, we have to think about Ukraine.”
“I think this is exactly what we have to discuss with the finance ministers, because there have been commitments also from the G7 leaders that they will also support Ukraine," Hahn added. "So, we have to fulfill our commitments. And, again, it's in our own interest. It's in our own interest because it's about peace in Europe, stability in Europe.”