Taoiseach Micheál Martin has said the EU’s decision to release €90bn in support for Ukraine should “hopefully send a signal Europe is in there for the long haul”.
Speaking to reporters at an informal EU summit in Cyprus, Mr Martin described the move as “very significant” for Ukraine, noting the country has taken “a fair hammering over winter”, reports RTE.
Mr Martin made the remarks after EU ambassadors reached a provisional agreement to unfreeze the funding, which had originally been approved by Brussels last December but was blocked by former Hungarian leader Viktor Orbán.
Mr Orbán had vetoed the funds due to a dispute with Ukraine over access to Russian oil, following damage to a key pipeline running through Ukraine, reports RTE.
However, following Hungary’s recent election in which Mr Orbán lost power, Ukrainian President Volodymyr Zelensky agreed to address the pipeline issue, leading Hungary to lift its veto.
The summit of EU leaders is taking place in Cyprus, which currently holds the EU presidency, ahead of Ireland assuming the six-month role in July, reports RTE.
While EU leaders are being briefed this evening on the latest developments in the Middle East and the situation in the Strait of Hormuz, there is also significant focus on the economic implications of the crisis for the bloc.
Much of this attention stems from the European Commission’s decision yesterday to ease EU state aid rules to help offset rising costs for consumers and businesses, potentially paving the way for measures such as price controls, income supports, and tax incentives, reports RTE.
Micheál Martin also held a bilateral meeting earlier today in Athens with Greek Prime Minister Kyriakos Mitsotakis, where he emphasised the long-standing financial connections between Ireland and Greece.
The informal EU summit is set to continue tomorrow, with Ireland prioritising discussions on a multi-annual financial framework for the EU, which is expected to be a major focus during Ireland’s six-month presidency beginning on 1 July, reports RTE.
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