LONDON, Feb. 24 - Ukraine could join the European Union in the future, EU Economics Commissioner Olli Rehn said.

"We are at a historical juncture, and Europe needs to live up to its historical moment and be able to provide Ukraine with accession prospects in the medium to long term – if it can meet the conditions of accession," he said in Sydney as part of a meeting of the finance ministers of G20 countries.

According to Britain's Guardian newspaper, Rehn also said that the EU was ready to provide substantial financial assistance to Ukraine after a new government is formed.