The Council of the EU on Monday approved an extra €3.5 billion (approximately $3.8 billion) in financial support for Ukraine, consisting of non-repayable grants and loans, according to a press release from the European Council.
The funding, part of the Ukraine Facility, aims to bolster Ukraine’s macro-financial stability and support its long-term recovery, reconstruction, and modernization. This marks the third disbursement under the facility, which has already provided close to €20 billion to Ukraine since it was launched a year ago.
In its statement, the Council noted that Ukraine had met the necessary conditions laid out in the Ukraine Plan to receive the third payment. The Ukraine Plan outlines the country’s roadmap for recovery and reform, including a timetable for the reforms it intends to undertake as part of its EU accession process over the next four years.
Among the 13 benchmarks that Ukraine has successfully demonstrated progress on are passing reforms to increase renewable energy usage, boosting the autonomy of its energy regulator, and simplifying border-crossing procedures to meet EU standards. Additionally, Ukraine has developed strategies for agriculture and rural development—including initiatives to clear land mines from agricultural areas—and is advancing efforts to list its strategic and critical raw materials.
The Ukraine Facility, which came into force on March 1, 2024, is designed to provide up to €50 billion of stable financing in grants and loans through 2027, aiming to support Ukraine’s structural reforms and economic modernization.
The additional aid is expected to further strengthen Ukraine’s financial stability and accelerate its transformation process, reinforcing the EU’s commitment to supporting the country’s integration into European structures.
The European Commission is set to unveil legal measures on Tuesday aimed at ending imports of Russian pipeline gas and liquefied natural gas (LNG) by the end of 2027, in a move that would formalize the European Union’s shift away from Russian energy supplies following the 2022 invasion of Ukraine.
India expects to conclude a free trade agreement with the European Union by the end of 2024, Prime Minister Narendra Modi said during his visit to Cyprus.
The European Union will delay plans to curb Russian nuclear fuel imports, focusing first on phasing out Russian gas by 2027, the European Commission confirmed.
European foreign ministers agreed to increase pressure on Russia by imposing new sanctions targeting its energy and banking sectors amid ongoing conflict with Ukraine.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
Oil prices rose on Tuesday, with analysts saying that uncertainty would keep prices elevated, even as there were no concrete signs of any production losses stemming from the Iran-Israel conflict.
Spanish Foreign Minister Jose Manuel Albares has urged the European Union to impose an arms embargo on Israel during the ongoing war in Gaza and called for renewed talks on Iran’s nuclear program.
Azerbaijani President Ilham Aliyev met with Afrim Gashi, President of the Assembly of the Republic of North Macedonia, expressing satisfaction over bilateral ties and future cooperation opportunities.
Israel’s military has announced that SEPAH General Ali Shadmani, head of Iran’s “Khatam al-Anbiya” central command headquarters, was killed in an airstrike on Tehran.
New Zealand’s Prime Minister Christopher Luxon is set to visit China this week to strengthen trade ties and attract tourists and students, while also addressing complex security and defence issues.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
The Israeli military has issued an evacuation advisory for Iranian civilians living near weapons production sites and associated infrastructure within Iran. The message was shared on the social media platform X in both Arabic and Farsi by an official military spokesperson.
Pyongyang has strongly condemned Washington's push for "strategic flexibility" of US forces in South Korea, warning it could spark regional conflict and accusing the US of pursuing hegemony in the Asia-Pacific.
Spanish Foreign Minister Jose Manuel Albares has urged the European Union to impose an arms embargo on Israel during the ongoing war in Gaza and called for renewed talks on Iran’s nuclear program.
Israel’s military has announced that SEPAH General Ali Shadmani, head of Iran’s “Khatam al-Anbiya” central command headquarters, was killed in an airstrike on Tehran.
New Zealand’s Prime Minister Christopher Luxon is set to visit China this week to strengthen trade ties and attract tourists and students, while also addressing complex security and defence issues.
Russian Security Council Secretary Sergey Shoigu has arrived in Pyongyang "on special instructions" from President Vladimir Putin. During his visit, he is expected to hold talks with North Korean leader Kim Jong Un, according to the Russian Security Council.
Oil prices rose on Tuesday, with analysts saying that uncertainty would keep prices elevated, even as there were no concrete signs of any production losses stemming from the Iran-Israel conflict.
Spanish Foreign Minister Jose Manuel Albares has urged the European Union to impose an arms embargo on Israel during the ongoing war in Gaza and called for renewed talks on Iran’s nuclear program.
Azerbaijani President Ilham Aliyev met with Afrim Gashi, President of the Assembly of the Republic of North Macedonia, expressing satisfaction over bilateral ties and future cooperation opportunities.
Israel’s military has announced that SEPAH General Ali Shadmani, head of Iran’s “Khatam al-Anbiya” central command headquarters, was killed in an airstrike on Tehran.
New Zealand’s Prime Minister Christopher Luxon is set to visit China this week to strengthen trade ties and attract tourists and students, while also addressing complex security and defence issues.
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