Ukraine might gain access to the European Union in 2030 given all requirements are met despite the task's difficulty, the head of the European Council Charles Michel told the German magazine Der Spiegel.

“Ukraine might join the EU in 2030 if both sides complete their home tasks,” Michel said.

Touching on the requirements, Michel said candidates must adopt certain governing reforms to fight internal corruption and adhere to the bloc's legal frameworks.

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“The countries of Western Balkans, for instance, have been waiting to enter the EU for 20 years, and the influence of Russia and China is growing there,” the head of the European Council noted, adding that time is of the essence here and must not be wasted.

“The fact of Russia's resistance has only demonstrated that Ukraine is meant to be in the EU. In the nearest future, not some day. Having taken such a decision, the EU will also prove it is capable of geopolitical actions,” he added.

The European Union is in preparations to start formal negotiations regarding Ukraine's membership and plans to make this move public in December, Politico said in a report on Tuesday.

On February 28, 2022, following the start of the war in Ukraine, Kiev submitted its application for EU membership. Soon after, both Georgia and Moldova expedited their membership applications to the bloc.

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More for Ukraine, less for others

However, being granted candidate status marks the start of an extended journey to EU accession. Turkey has had this status since 1999, North Macedonia since 2005, Montenegro since 2010, and Serbia since 2012. Croatia was the most recent to join the European Union in 2013, following a decade-long wait.

Should Ukraine join the European Union, it would be eligible for approximately 186 billion euros ($195.2 billion) over a span of seven years. This would necessitate increased contributions from current members, who would in turn receive less from the EU's budget, a Financial Times report said on Wednesday citing EU Council estimates

If Ukraine were to join, it would become the EU's leading beneficiary of agricultural subsidies, surpassing France. This shift would lead to a 20.3% reduction in payments per hectare of agricultural land for existing beneficiaries.

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Kiev would also have access to 61 billion euros from the EU's cohesion funds, which would result in countries like Cyprus, the Czech Republic, Estonia, Lithuania, Malta, and Slovenia losing out on these allocations.

The data projections stem from a straightforward extension of the EU's current budgetary guidelines, the newspaper noted. However, these rules would "very likely" undergo modifications should there be an expansion, the FT said.