The EU is preparing a large-scale support package for Ukraine with money and weapons to coincide with the second anniversary of the Russian invasion.

According to FT, the long-awaited agreement to allocate €50B to Kyiv over four years, part of which may be paid out as soon as the deal is concluded, has been reached.

€5B in annual military aid and the transfer to Ukraine of income obtained from the Russian Federation’s frozen assets are also expected.

The package also includes the 13th round of sanctions against companies and individuals associated with Russia’s full-scale invasion of Ukraine. The EU’s new sanctions will focus on adding more individuals and companies to the lists of those already subject to asset freezes and travel bans.

However, despite some countries’ demands, the new package is unlikely to include a ban on imports of Russian aluminum, nuclear fuel, and liquefied natural gas.

Negotiations are also ongoing with the European Peace Fund, which finances the supply of weapons to Ukraine. The talks are focused on gradually abandoning compensation for the weapons sent to Ukraine, replacing it with payments for the joint production of weapons.