Macron on US aid delay: Europe may have to provide Ukraine with over €50 billion
Emmanuel Macron (Photo: ERA)

Due to the delay in aid from the US, European allies will likely have to provide Ukraine with more than €50 billion, approved under the Ukraine Facility program, as was stated by French President Emmanuel Macron during the opening of a gunpowder plant in Bergerac, France.

For in-depth analysis and longer stories, follow us on LinkedIn

"If financing from the US is not forthcoming, Europe will have to mobilize and create new financial instruments," he said.

In this case, Macron noted, the EU will likely have to adopt additional financing and provide Ukraine with more than €50 billion, envisaged by the Ukraine Facility program.

"We cannot abandon Ukraine. Because Ukraine is 1,500 km from here. That is to say, it is our security, it is the possibility for Europe to be at peace," said the French leader.

On February 1, 2024, the European Council unanimously approved a new package of financial assistance for Ukraine for the period 2024-2027 of €50 billion, of which €39 billion will go towards ensuring macro-financial stability.

Read also: EU Parliament to withhold funding to European Council until Ukraine receives Patriot systems