EU studies fund distribution that Hungary blocked for Ukraine while pressuring Russia

The European Union is moving forward with plans to disburse 6.6 billion euros in military aid for Ukraine, a package that had been blocked by the previous Hungarian government. This development coincides with preparations for a new round of sanctions targeting Russia's military-industrial complex.

EU defense ministers held an informal meeting in Nicosia to discuss these crucial steps in supporting Ukraine. While official decisions were not made, ministers exchanged views on future aid, freedom of navigation in the Strait of Hormuz, and the EU's broader security strategy. The bloc is also considering how these funds could facilitate joint acquisitions of military equipment and support the European training mission for Ukrainian soldiers.

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the threat looms over European territory as well

Kaja Kallas, the EU's High Representative for Foreign Affairs and Security Policy, announced that a proposal has been made to add 80 new individuals and entities to the sanctions list. These additions are linked to Russia's military industry, human rights violations, or propaganda efforts. The Foreign Affairs Council is expected to address this matter in an upcoming meeting in Luxembourg.

Kallas reiterated the EU's commitment to weakening Russia's war economy, stating that Western sanctions have already cost Moscow an estimated 1.2 to 1.5 trillion dollars. She also highlighted the importance of cooperation in defense, noting that the first disbursement of a 90 billion euro loan to Ukraine will be invested this month in drones and air defense systems, with a focus on fostering European-Ukrainian collaboration in manufacturing.

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The region is trapped in a succession of peace negotiation rounds and fragile ceasefires. A return to large-scale war would carry an enormous cost for the entire region.