EU set to promise Ukraine support but not quick accession



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>EU set to promise Ukraine support but not quick accession</title></head><body>

Senior EU officials in Kyiv for summit

Air raid alerts issued across Ukraine

EU leaders pledge more support for Ukraine in war

EU not expected to secure quick path to EU accession

By Max Hunder

KYIV, Feb 3 (Reuters) -Air raid sirens wailed on Friday morning as European Union and Ukrainian leaders gathered for a summit, with Kyiv set to win pledges of further support but not a promise of quick accession to the wealthy bloc.

Air raid alerts sounded in the capital and across the country but there were no immediate reports of Russian missile strikes as the summit was due to start in Kyiv, shortly before the first anniversary of the Russian invasion on Feb. 24.

European Commission President Ursula von der Leyen and European Council President Charles Michel, chairman of the 27 EU national leaders, were in Kyiv for the talks with President Volodymyr Zelenskiy.

"The EU will support Ukraine and the Ukrainian people against Russia's ongoing war of aggression for as long as it takes," the three leaders will say in a joint statement, a draft of which was seen by Reuters.

EU leaders will promise Ukraine more financial, military and political aid. Talks were expected to focus on improving access for Ukrainian products to the EU market, helping Ukraine cover its energy needs after weeks of Russian air strikes, new sanctions on Moscow and prosecuting Russian leaders for the war.

But the next round of EU sanctions against Russia is widely expected not to meet Ukraine's expectations and the EU is not expected to grant Kyiv fast-track to membership while at war.

Kyiv applied to become an EU member shortly after Russian invasion and wants to start formal accession talks as soon as possible.


CALL FOR UNWAVERING SUPPORT

After separate talks on Thursday with von der Leyen and members of the European Commission, the EU executive, Zelenskiy said in his nightly address that Ukraine needed unwavering support in the war.

"I believe that Ukraine deserves to reach the beginning of negotiations on EU membership this year already," he said.

The EU, however, has not committed to any dates, instead underlining the need for Ukraine to step up its fight against endemic corruption, reform the judiciary to free it from political meddling, and strengthen its economy.

Multiple political, economic and legal entry criteria mean the process takes years. The EU's eastward expansion also faces resistance from some EU states including France and is opposed by Moscow, which portrays the former Soviet republic's accession to Western institutions as a threat to Russia's security.

EU officials speak of "managing expectations" on quick accession as Moscow wages war on Ukraine.





Writing by Gabriela Baczynska, Editing by Timothy Heritage

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.