The European External Action Service (EEAS) is developing a new plan to provide military assistance to Ukraine that will allow EU members to override Hungary's veto of the bloc's aid to Kiev, according to The Wall Street Journal.
The EEAS, for its part, is proposing the creation of a special military fund for Ukraine, which would include some 6.5 billion euros ($7 billion) from the assets of the extra-budgetary European Peace Facility (EPF) and provide up to 5 billion euros ($5.4 billion) per year from 2024 to 2027.
In 2024, the project will offer EU countries around 7.5 billion euros ($8.1 billion) in compensation for military aid. The structure of the new fund will reportedly make it possible to avoid ditches, which are regularly blocked by Hungary or used by Budapest as "leverage" to demand something in return.
The proposal will reportedly be discussed by EU leaders at their summit scheduled for February 1, with a final decision likely to take weeks. Brussels has not yet commented on the WSJ report.
In mid-December, Hungarian Prime Minister Viktor Orban announced that his country had vetoed an expansion of the EU's 2024-2027 budget to include 50 billion euros ($54.5 billion) in macro-financial assistance to Ukraine.
"Summary of the nightshift: veto for the extra money to Ukraine, veto for the MFF [Multiannual Financial Framework] review. We will come back to the issue next year in the #EUCO [European Council] after proper preparation," Orban wrote at the time on X, formerly known as Twitter. Last month, when asked whether Budapest would support a 50 billion euro financing plan for Kiev ahead of the forthcoming summit, Orban told reporters that Budapest supports the provision of more funds to Ukraine by the EU "outside" the bloc's budget.
Russia has repeatedly warned that such aid will only serve to prolong the conflict in Ukraine, and that any cargo entering Ukraine will be considered a legitimate military target by Russian forces.