Financial sustain and diplomacy: EU tries to dampen US-Russia tensions in Ukraine with 1.2billion package

Brussels, 24 Jan 2022 – While tensions are rising with US starting the withdrawal of its embassy staff and their families from Kyiv, from Brussels comes an invite to refrain from escalating Ukrainian crisis and to go on with diplomatic mediation.

EU Commission announced today a package of new financial assistance made of emergency loans and grants, to support Ukraine in the medium and long-term.

“The EU stands by Ukraine. We are firm in our resolve” said Ursula von der Leyen recalling that ”since 2014 [e.g. the year of Euromaidan, the widespread protest in Ukraine in support of the EU and of the chance for the eastern country to enter the Union], the EU and its financial institutions allocated over 17billion euros in grants and loans to the country”.

“So today I am announcing a new financial assistance package made both of emergency loans and grants” said Commission chief.

The Commission proposal consists in a new emergency assistance of 1.2 billion euros. “This package will help Ukraine now to address its financing needs due to the conflict. We count on the EU Parliament to adopt this emergency microfinancial assistance as soon as possible”, she said adding “after the approval Ukraine will get the first tranche of 600 million euros and later more EU support for modernisation.

Today Commission president also formally received the credentials of the new US ambassador to the EU, Mark Gitenstein.

Ursula von der Leyen and US ambassador to the EU Mark Gitenstein – Photo © EU Commission