The European Parliament (EP) announced on Thursday that the Budget and Foreign Affairs Committees had “corrected and approved” a proposal to allocate EUR 50 billion for the restoration, reconstruction and modernization of Ukraine from 2024 to 2027.
The EP’s position was approved with 86 votes in favor, 6 against, and 2 abstentions.
The European Parliament’s communiqué points to the need for “urgent adoption (of the package) in accordance with the long-term review of the EU budget.”
“The proposed fund for Ukraine is part of the ongoing review of the EU’s long-term budget, which needs to be adjusted as it has been seriously depleted after the numerous crises that have occurred since 2021,” the EP said.
The package should also be integrated into next year’s annual budget, which will be negotiated in November, the document says.
One of the main demands of the MEPs is to use “assets of the Russian Federation or other legal or natural persons” of the Russian Federation for the restoration of Ukraine.
MEPs “strengthened the provisions on combating fraud, corruption, conflicts of interest and irregularities in the use of EU funds in Ukraine.”
It is stated that the full European Parliament will vote on this draft law at the plenary session of the European Parliament on October 16-19.
“Negotiations with member states can begin as soon as the Council (EU – IF-U) develops a common position,” the European Parliament said.
