EU frees €90bn loan
- EU ambassadors agreed to unblock a €90bn loan package for Ukraine after Hungary lifted its veto. - The package amounts to €90bn, one of Europe's largest collective financial commitments to Kyiv. - The vote ends months of delay and underscores that European support is substantial yet politically fragile (theguardian.com).
European Union ambassadors agreed on April 22 to unblock a €90 billion loan for Ukraine after Hungary dropped the veto that had held it up for months. (yahoo.com) The package is meant to keep Ukraine financed through 2026 and 2027, and diplomats said the 27 member states were expected to complete final approval through a written procedure by April 23. (usnews.com) The same dispute had also delayed the European Union’s 20th sanctions package against Russia, which officials had originally wanted to adopt around the February 24 anniversary of Russia’s full-scale invasion. (usnews.com) The blockage was tied to a separate fight over the Druzhba pipeline, a Soviet-era oil route that carries Russian crude through Ukraine to Central Europe. Hungary had refused to sign off while accusing Kyiv of disrupting those flows. (politico.eu) By April 22, diplomats said oil shipments on the pipeline had resumed, clearing the immediate obstacle to the vote in Brussels. Reuters reported that Slovakia also lifted its objections. (rferl.org) The money ranks among Europe’s biggest collective financial commitments to Kyiv since the war began, and it is aimed at covering state spending as well as military needs over the next two years. (bloomberg.com; europeaninterest.eu) The delay showed how a single member state can still stall major European Union decisions on Ukraine, even after leaders agreed in principle last year that the bloc should jointly borrow the money. (independent.co.uk) European Commission President Ursula von der Leyen had said on April 1 that the executive was preparing the legal and technical steps needed to release a first payment as soon as the veto was gone. (euronews.com) President Volodymyr Zelenskyy called the move “the right signal” on April 22 as Ukraine pressed allies to turn pledges into cash while the war and budget pressure continue. (theguardian.com) If member states complete the final sign-off on April 23 as planned, the argument that froze the loan since early 2026 will give way to the harder question of how quickly the money can reach Kyiv. (dw.com)
