The European Union has agreed on security guarantees with Ukraine. The agreement can be signed no later than the beginning of July, according to Welt.
According to the publication, envoys from 27 EU countries recently agreed on an eleven-page document marked confidential. The agreement highlights the EU and its member states' crucial role in Ukraine's long-term security and stability through military, humanitarian, financial, trade, and economic support. It also addresses refugee placement, reform support, and sanctions, among other aspects.
The EU commits to immediate consultations within 24 hours in case of new attacks, excluding European troops' involvement in combat against Russia. Brussels pledges to continue training Ukrainian forces and assisting defense efforts.
Reconstruction assistance
As reported by Welt, the Ukraine Support Fund will have a budget of €5 billion in 2024. The budget may increase by 2027, depending on future Ukrainian military needs and additional bilateral contributions from EU countries.
The EU also commits to providing extensive reconstruction support to Ukraine, estimated in billions of euros. In February 2023, the World Bank estimated Ukraine's reconstruction cost at $411 billion, which has since increased due to expanded destruction.
Overall, Brussels expects the European Commission to soon propose creating a specific fund for Ukraine and the Gaza Strip's reconstruction.
Not everyone wants to provide guarantees
At the end of June 2023, EU countries agreed to provide security guarantees to Ukraine. During negotiations, three neutral states insisted that the bloc should not provide guarantees separately but only commit to security.
Seven EU countries refuse to enter into bilateral agreements with Ukraine - Slovakia, Hungary, Croatia, Bulgaria, Cyprus, and neutral countries Ireland, Austria, and Malta. Switzerland and Turkey, not part of the EU, also decline to negotiate a security agreement with Ukraine.
Security guarantees
It is worth noting that Ukraine and several partner countries have concluded bilateral security guarantee agreements. Each agreement contains similar provisions and individual commitments.
Seven EU countries have provided security guarantees to Ukraine: Germany, Denmark, France, Italy, Finland, the Netherlands, and Latvia. Agreements have also been reached with Canada and the United Kingdom.
Negotiations are currently underway with the United States regarding security guarantees. Ukraine expects the agreement to be signed in the near future.