The EU is readying more sanctions against Russia and financial support for Kyiv ahead of the second anniversary of the war, in a bid to revitalise waning levels of western assistance to Ukraine.
The package includes a 13th set of restrictions on businesses and individuals connected to the 2022 full-scale invasion of Ukraine, as well as a long-delayed agreement on €50bn for Kyiv over the next four years, some of which could be paid out as soon as a deal is struck, according to people familiar with the preparations. Another €5bn in military assistance per year and a decision to set aside profits arising from Russia’s frozen assets are also part of the overall set of support measures.
“It’s money, weapons and sanctions at a time when we recognise [the Ukrainians] need encouragement,” said one EU diplomat involved in negotiations over the package. “But two years in, there are limits to what we can do.”