EU rep supports Ukraine peace plan as Hungary vetoes funding

After Hungary blocked an agreement on Ukrainian funding at an Aug. 31 meeting, European Union High Representative Josep Borrell reiterated his support for Ukraine's peace formula during a press conference in Toledo, Spain.

"Today we discussed this formula for peace and how we can continue to support it, how we can put it at the center of the international discussion to build a just peace in Ukraine," Borrell said.

President Volodymyr Zelensky's 10-point plan calls for the restoration of Ukraine's territorial integrity and the prosecution of Russian war criminals, among other stipulations.

The EU held a meeting of foreign ministers, including Ukraine's Dmytro Kuleba, in Toledo on Aug. 31.

During the meeting, the ministers failed to agree on the eighth tranche of €500 in military aid to Ukraine under the European Peace Facility (EFP).

Hungary blocked the provision of funds, vetoing aid on the grounds that Ukraine has designated the Hungarian OTP Bank an international sponsor of war.

This is not the first time Hungary has blocked financial support for Ukraine.

"I hope we will be able to unblock it in the coming weeks. But this is a problem that still needs to be solved," Borrell stated.

Borrell said that the ministers also discussed his proposal to give Ukraine €20 billion in EFP aid over the next four years. He said feedback from the other ministers was "very positive" and that he hopes the plan will be approved by the end of 2023.

Borrell said sustainable support efforts were an important aspect of the discussion, and that the ministers "are standing with Ukraine today, tomorrow and always."

The European Peace Facility was established in 2021 as an extra-budgetary EU funding mechanism to support Ukraine against the Russian invasion.

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