News

Finnish foreign minister hopes for proposed €40b Ukraine aid package

A decision about the proposal could be made by EU leaders at a summit that begins on Thursday.

Woman with blonde, shoulder-length hair, wearing a blue top, speaking into a row of microphones.
Finland's Foreign Minister Elina Valtonen talks to the media during the European Foreign Ministers Council meeting in Brussels, Belgium, 22 January 2024 Image: Olivier Hoslet / EPA
  • Yle News
  • STT

Finnish Foreign Minister Elina Valtonen (NCP) said she hopes the European Union will support a 40-billion-euro aid package for Ukraine, as proposed by Kaja Kallas, the bloc's High Representative for Foreign Affairs and Security Policy.

"This is a question of being able to agree on additional support for Ukraine with a group of nations that also includes countries from outside the EU," Valtonen said on Monday ahead of a foreign ministers' meeting in Brussels.

According to Politico, the strategy of also seeking support from outside the EU is aimed at avoiding potential pushback from Hungary or Slovakia.

Foreign ministers discussed the proposed aid package on Monday, while a decision may be made by EU leaders at a summit that begins on Thursday.

Following the meeting in Brussels on Monday, Valtonen said there was good discussion about the support package, according to news service STT.

She noted that the package could be worth about 20 billion euros, but its final sum could grow up to 40 billion euros.

According to Valtonen, a few EU countries had not made concrete decisions about the package, but she did not want to specify which ones.

According to Valtonen, the proposed arrangement would offer a way for countries lacking defence equipment to also take part in the effort financially, providing funds that could be used by Ukraine's defence industry.

However, the Finnish minister said it also is important for EU countries to take part in the support package.

"It is in Finland's interest that every single EU country participates in this joint effort as much as Finland, in relation to its gross domestic product, for example," Valtonen said.

Nordic and Baltic countries have offered Ukraine the most support, relative to the size of their economies. For example, Finland has offered support of around one percent of its GDP, while Estonia's proportion is two percent.

US-Russia talks

According to Finnish news service STT, Valtonen said US President Donald Trump's "genuine attempt" to bring about peace in Ukraine should not offer an opportunity for Russian President Vladimir Putin to weaken Ukraine and gather strength for new attacks later on.

The 40-billion-euro package is thought to be roughly the amount that the EU would need to provide if the US fully withdraws its support from Ukraine.

Trump and Putin are scheduled to speak by phone on Tuesday, the US president has told reporters. According to Trump, he and Putin will discuss ending the war in Ukraine.

STT cited sources suggesting that a possible scenario could see Nordic and Baltic countries as more willing to support Ukraine and European defence, while southern European countries could have more doubts about such efforts.

The news agency noted that a decision being made about the proposal is far from certain, even during the summit later this week.

Monday's meeting of foreign ministers' will also include discussions about the situations in the Middle East, with a focus on Gaza and Palestine. The ministers are also scheduled to discuss matters regarding Syria, Iran as well as EU-US relations.

Stubb at Russian border

Meanwhile, Finnish President Alexander Stubb is visiting the Nuijamaa border station on Monday, according to the president's office.

Interior Minister Mari Rantanen (Finns) is joining Stubb on the visit to Finland's eastern border with Russia.

The president is using the trip to get acquainted with the Southeast Finland Border Guard and its ski patrol operations, as well as the eastern border fence project.

He was originally set to visit the Nuijamaa station in January. Stubb has frequently referenced Finland’s 1,340-kilometer border with Russia, which has been closed for nearly 16 months.

The eastern border fence is being constructed at the highest-risk areas along the border. The aim is to enhance the Border Guard's situational awareness and response capabilities, with advanced tech surveillance systems in place.

Edited to add Minister Valtonen's comments about the results of Monday's meeting.