EU nears €90bn Ukraine loan
- EU officials signalled growing momentum to approve a €90 billion loan package to support Ukraine. - Hungary appears to be moving to lift its veto after behind‑the‑scenes mediation and signals about Druzhba oil flows resuming. - The move points to a more institutionalized European financing approach, though member‑state bargaining keeps support politically fragile. ( )
European Union officials said on April 21 they expect approval within days for a €90 billion loan to Ukraine, after weeks of delay over Hungary’s veto. (finance.yahoo.com) European Union foreign policy chief Kaja Kallas said in Luxembourg that ministers expect “positive decisions” on April 22. Valdis Dombrovskis, the economy commissioner, said the first tranche could go out in late May or early June. (finance.yahoo.com, yahoo.com) Ukraine’s foreign minister, Andrii Sybiha, said on April 21 that “all obstacles” had been removed and the bloc had the tools to lift what he called an artificial blockade. The money is meant to cover Ukraine’s budget needs through 2026 and 2027 as Russia’s war enters a fourth year. (yahoo.com, eurointegration.com.ua) The immediate holdup was Hungary’s demand that oil shipments through the Druzhba pipeline resume before Budapest dropped its objection. Viktor Orbán said Ukraine had agreed to restart flows on April 20, tying the energy dispute directly to the loan talks. (yahoo.com) Druzhba is a Soviet-era pipeline that still carries Russian crude into parts of Central Europe. Most European Union countries stopped buying Russian oil after the 2022 invasion, but Hungary and Slovakia kept temporary exemptions and remain exposed to interruptions. (politico.eu, unn.ua) The loan would mark a shift from ad hoc aid fights toward a more regular European financing channel for Kyiv. Euronews reported that the final step is a procedural amendment linked to the European Union’s long-term budget rules, which ambassadors are due to review on April 22. (euronews.com, europesays.com) That does not end the politics. Politico reported in February that Orbán had used the loan to pressure Kyiv over oil transit, and diplomats told Euronews this month that the dispute exposed how a single member state can still slow collective action on Ukraine. (politico.eu, euronews.com) The timing also reflects a political change in Budapest. Reuters reports carried by Yahoo said officials now expect movement after Orbán’s electoral defeat, which Brussels sees as removing the main obstacle to the package. (yahoo.com) If ambassadors sign off on April 22, Brussels can move from bargaining to disbursement, with the first cash still weeks away. For Kyiv, that would turn a stalled promise into money scheduled for late spring or early summer. (finance.yahoo.com, yahoo.com)
