Ukrainian Prime Minister Denys Shmygal. (Photo: VNA)

The European Commission, the EU’s executive arm, announced the package as senior officials hosted a meeting in Brussels of the EU-Ukraine Association Council with Ukrainian Prime Minister Denys Shmygal.

PM Shmygal said Ukraine hopes to receive 4.98 billion USD in financial aid from the European Union to support its economy and army and prepare for the looming winter.

The conflict with Russia is sapping Ukraine’s resources and Kyiv has repeatedly sought financial aid from the EU, the US, and international lenders.