The European Union will propose a new mechanism to provide 18 billion euros ($18.1 billion) in financial assistance to Ukraine in a more predictable manner, APA reports citing Bloomberg.
The bloc has been slow to deliver all the support it promised earlier this year and has been criticized for dragging its feet. European Commission President Ursula von der Leyen previously told President Volodymyr Zelensky in a phone call that she would present the aid package this week to cover Ukraine’s needs into next year.
The Ukrainian authorities used special wartime powers to seize control of five strategically important companies, all of which have ties to some of the country’s most powerful oligarchs. Zelenskyy said in his regular nightly address that companies will now work for the defense of Ukraine, including providing and repairing equipment and working to restore infrastructure.
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