US EditionEU approves €90-billion Ukraine loan and new Russia sanctions after Hungary lifts veto
- European Union envoys gathered in Brussels on Wednesday, cautiously optimistic that a €90 billion loan package to support Ukraine's military and financial needs for the next two years may soon be approved after months of deadlock.
- Hungary and Slovakia previously blocked the aid, insisting that Russian oil supplies must resume via the Druzhba pipeline before they would unblock the funds. Both nations accused Ukraine of failing to repair the pipeline damaged by a Russian strike.
- President Volodymyr Zelenskiy said on Tuesday that Ukraine completed repairs on the pipeline, which "was damaged by a Russian strike" but "the pipeline can resume operation." Slovak Economy Minister Denisa Sakova expects oil supplies to resume early on Thursday.
- Cyprus, which holds the European Union's rotating presidency, intends to launch a written procedure requiring Hungary or any objecting nation to state in writing why they oppose the loan. Final approval could come on Thursday when EU leaders meet for a summit.
- Outgoing Hungarian Prime Minister Viktor Orbán, who lost the April 12 election, is due to leave office next month and be replaced by opposition leader Péter Magyar, signaling a potential policy shift on Ukraine aid.
388 Articles
388 Articles
EU Greenlights $105 Billion Ukraine Loan and 20th Russia Sanctions Package
Already a subscriber? Make sure to log into your account before viewing this content. You can access your account by hitting the “login” button on the top right corner. Still unable to see the content after signing in? Make sure your card on file is up-to-date. The European Union has formally approved a $105 billion loan to Ukraine and a new round of sanctions against Russia. Getting into it: The loan (90 billion euros spread over two …
Omaha World-Herald
The Billings GazetteEU approves massive war loan for Ukraine
AYIA NAPA, Cyprus — The European Union formally approved a $105 billion loan to Ukraine and new sanctions against Russia on Thursday, ahead of an informal summit of the bloc's leaders in Cyprus.
“Receiving this money is a matter of life and survival for Ukraine.” Volodimir Zelenski was not able to express it this Wednesday in an interview on CNN television. The Ukrainian president referred to the 90 billion euro loan that the European Council approved this Thursday in favor of his country. The money comes after months of delays and when economists warned that the government only had resources left in the coffers to reach summer. Continu…
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