(April 22): Ukraine will finally start receiving a €90 billion loan from the European Union after Hungary lifted its veto, ending months of wrangling over the vital cash injection for the war-torn country.
EU ambassadors gave preliminary approval for the loan’s disbursement during a meeting on Wednesday, according to the EU’s rotating presidency, held by Cyprus. The move came shortly after Ukraine announced it repaired the Druzhba pipeline and resumed Russian oil flows to Hungary and Slovakia. Ambassadors also approved a fresh package of Russian sanctions at the meeting, which Hungary and Slovakia had separately been blocking over the pipeline spat.
The loan will deliver Ukraine a much-needed financial lifeline, with the country set to run out of money within weeks. The EU funds will stabilise both the country’s military and government.
The funds are critical for Ukraine to stay in the fight more than four years after Russia’s full-scale invasion and with the US effectively ending its assistance since US President Donald Trump returned to office in 2025.
Hungary’s outgoing Prime Minister Viktor Orban blocked the loan’s payout earlier this year, insisting Ukraine must first restart oil supplies through the pipeline, which Moscow damaged in a January drone strike. Orban’s decision dismayed many European leaders, since the Hungarian leader had previously agreed to the aid package in December.
Orban’s successor, Peter Magyar, has vowed to bring Hungary back into the European fold when he takes office next month. He is likely to make it easier for the EU to adopt subsequent sanctions against Russia and keep support flowing to Ukraine. Orban has been seen as one of Vladimir Putin’s closest allies in the EU.
See also: Apple fined £390,000 by UK over Russian sanction breaches
Uploaded by Arion Yeow
