According to agency sources, the administration of US President Joe Biden has begun talks with European Union officials, insisting that Europe must do more to support Ukraine. Until then, some officials of the European Union criticized the bloc countries for taking too slow decisions on support for Kiev.

The current discussions between the US and the European Union are about the creation of a new mechanism to support the Ukrainian economy, given that the war is seemingly protracted. It was decided that Ukraine’s allies would be able to distribute funds equally to support Kiev.

EU leaders are expected to discuss support for Ukraine at an informal summit in Prague this week. The diplomats tasked with preparing the meeting were told that the total amount of financial aid that Europe will provide to Ukraine could reach $1.5 billion each month, similar to the United States.

According to the International Monetary Fund, Ukraine needs about five billion dollars every month to support the economy and provide essential services to the population without interruption.

On September 20, the European Union passed a resolution on the provision of five billion euros in rapid macroeconomic assistance to Ukraine. The money is given in the form of long-term loans on very favorable terms.

This is the second part of the European financial support for Ukraine, with a total value of nine billion euros. It was announced by the European Commission in April and adopted in June. Ukraine received the first billion of this amount in two money transfers on 1 and 2 August.