The European Union (EU) must be prepared to compensate for likely declines in US aid to Ukraine, said Josep Borrell, the EU’s High Representative for Foreign Policy and Security. The US administration reportedly plans to cut US aid to Ukraine by nearly 30%.
The decrease in US aid results from President Biden’s administration switching its focus on the situation in Gaza. This will likely have severe consequences for the Ukrainian economy, as US aid has been the country's primary source of income in recent years.
However, the EU is determined to step in to mitigate the effects of the US’s decision. Borrell said the EU is ready to provide Ukraine with more financial and political support and is “prepared to increase its assistance substantially”. This includes providing additional financial aid, as well as providing assistance in the form of technical advice and capacity building.
The EU also encourages Ukraine to pursue reforms in economic governance, energy security, and the rule of law. These reforms are essential for Ukraine to take full advantage of the EU’s support and ensure that the country can continue to develop and grow despite the US’s decision.
In addition, the EU is also emphasising the importance of strengthening Ukraine’s ties with the EU. According to Borrell, “the EU is ready to move forward with plans for a free trade agreement with Ukraine” and to deepen the political relationship between the two sides.
Ultimately, the EU’s goal is to ensure that Ukraine is not left vulnerable due to the US’s decision to cut aid. By providing additional financial assistance, helping Ukraine implement reforms, and deepening the political relationship between the two sides, the EU is determined to ensure that Ukraine can continue to thrive and develop despite the US’s decision.
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