EPRS Policy Talks: What is the EU doing to help Ukraine financially?

This was a short talk on the EU’s role in financially assisting Ukraine considering the ongoing Russian invasion. It was presented by Sebastian Clapp and Tim Peters, policy experts in the EPRS.

An executive summary written by Tim Peters¹ states three important aspects of EU policy on the issue.

The first being that Ukraine’s recovery will be a defining project for the EU in the 2020’s and that the cost of reconstruction will only increase as long as Russia still holds Ukrainian territories.

The second that, despite having already invested 122 billion Euro worth of public money, private investment into Ukraine remains crucial. To realise this, it is imperative that there is an overall security guarantee and financial guarantees for early financial investments into the war torn country. This pairs with the strengthening of the rule of law, judicial reform and anti-corruption measures in the country.

The third, and to my opinion the most interesting position, states that “a democratic Ukraine based on the rule of law and with a vibrant market economy would serve as a beacon of freedom and could thus act as a successful catalyst for democratic change in the whole region.”.

I believe this final position is problematic. Especially paired with the recent talks on how we are essentially preparing Ukraine to become a full European member state. In the Q&A session after the talk I asked Tim Peters if it wasn’t provocative of Europe to take Ukraine under its wing to the extent that it plans to do so. Not because I have any sympathy for the Russian imperialist project, but rather in fear of it. We know that part of the reason for this recent invasion is a tainted Russian sense of pride that needed to reassert itself on the international scene. It is no secret that neither NATO nor the EU have been subtle in their eastward advance into what Russia considers her sphere of influence.

I found the response rather arrogant and dismissive. Both policy experts asserted that there was no such intrusion into a Russian sphere of influence and that if Ukraine wanted to join the EU it had every right to do so. On top of this the two gentlemen added that if Putin didn’t like Ukraine joining the EU, this would be “too bad for him”.