'We do not want only a cease-fire': EU chief calls for lasting peace in Ukraine

LONDON — A cease-fire successful Ukraine is not capable for European officials, who privation lasting bid successful the region, European Commission President Ursula von der Leyen told CNBC.

"We are precise wide we bash not privation lone a cease-fire and a frozen struggle successful regions of Ukraine, due to the fact that these regions volition ever beryllium fragile. No concern volition spell there, and the struggle could [at] immoderate clip flare up again, arsenic we person learned since 2014. So it has to beryllium a existent peace," von der Leyen said connected the sidelines of a league connected reconstruction efforts for Ukraine.

Kyiv has been warring a Russian effort to afloat invade the nation since February 2022. Territorial tensions with Moscow spell backmost to 2014, erstwhile Russia illegally annexed Crimea — which Kyiv considers portion of Ukraine.

Ukraine is successful the aboriginal stages of its counteroffensive to recapture Russian-occupied territory successful the southbound and eastbound of the country. Military analysts argued that Kyiv is making tiny gains.

Peace talks look to beryllium elusive for the clip being, with Western officials skeptical of the occurrence prospects of planetary propositions, specified arsenic the 12-point program unveiled by Russia's large commercialized spouse China connected the first-year day of the conflict.

Beijing's program did not condemn Russia for its invasion, and it did not see Kyiv's purpose to regain Crimea.

Speaking to CNBC's Steve Sedgwick, von der Leyen said China tin nevertheless beryllium a important subordinate successful the bid process.

"China is simply a imperishable subordinate of the U.N., and this comes with responsibility. And China has power connected Russia, truthful we expect China to usage this power to person Russia to beryllium down astatine the negotiating table," she said.

Her comments travel arsenic Western governments look to beryllium stepping up their efforts for the aboriginal reconstruction of Ukraine. U.K. Prime Minister Rishi Sunak connected Wednesday announced indebtedness guarantees worthy $3 cardinal implicit 3 years astatine the conference. The European Union connected Tuesday said it would supply Ukraine with 50 cardinal euros ($54.58 billion) of assistance betwixt 2024 and 2027.

Von der Leyen said the two-day gathering successful London was astir governments coordinating their assistance to Kyiv, but besides astir convincing backstage investors to articulation in.

"It is getting the backstage assemblage to spot in," she said, "We request that knowledge, we request that expertise and, of course, the fiscal firepower."

Data from the World Bank and the European Commission released successful March said that the outgo of reconstruction successful Ukraine would beryllium astir $411 billion. However, that fig preceded the devastating illness of the Nova Kakhovka dam and ensuing floods earlier this month, and the outgo lone increases arsenic the warfare drags on.