All 27 leaders of the European Union, including Hungarian Prime Minister Viktor Orban, have managed to reach a deal that would allow the bloc to send €50 billion ($54 billion) in funding to Ukraine over the next four years.

In a post on X, formerly Twitter, European Council President Charles Michel celebrated the landmark agreement during a summit in Brussels as a "steadfast, long-term, predictable funding" to the beleaguered nation at war against Russia, German broadcaster DW reported.

"We have a deal," he wrote. "All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget."

Previously, Orban blocked the Ukraine funding, claiming that "Brussels bureaucrats" were blackmailing him and his country. He only yielded his opposition to the funding when he joined the bloc in unanimously agreeing to review it in two years "if needed."

EU Commission President Ursula von der Leyen also celebrated the agreement, calling it a "good day for Europe."

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Ukraine Welcomes EU's Defense Deal

Meanwhile, Ukrainian officials also praised the EU's new defense package.

Ukrainian Prime Minister Denys Shmyhal was one of the first to welcome the decision, thanking Michel and the EU leaders.

"Each of your votes is a significant contribution to our joint victory," he wrote on social media.

Ukrainian President Volodymyr Zelenskiy also welcomed the finalization of the deal.
"It is very important that the decision was made by all 27 leaders, which once again proves strong EU unity," he said in a statement.

Zelenskiy added that the funding would "strengthen long-term economic and financial stability" in his country.

The first part of the deal, worth €4.5 billion ($4.87 billion), is expected to arrive in Ukraine in March, the Ukrainian Economy Ministry said.

Related Article: Europe vs. Orban: EU Leaders Meet in Brussels to Pass Ukraine Deal Despite Hungary Veto