The European Union on Thursday approved a massive loan package to help Ukraine meet its economic and military needs for the next two years, the bloc’s Cypriot presidency said, after Hungary lifted its veto.
The EU also approved a new raft of sanctions against Russia over its war on Ukraine. The measures were prepared early this year and set to be announced in February to mark the fourth anniversary of the conflict, but Hungary and Slovakia opposed the move.
Hungary and Slovakia have been locked in a feud with Ukraine since Russian oil deliveries to the two EU countries were halted in January after a pipeline was damaged. Ukrainian officials blamed the damage on Russian drone attacks.
Ukraine desperately needs the 90-billion-euro (US$106 billion) loan package to prop up its war-ravaged economy and help keep Russian forces at bay. Hungary angered its EU partners by reneging on a December deal to provide the funds.
“Today the Council approved the final element needed to allow for the disbursement of the 90-billion-euro loan for Ukraine,” Cypriot Finance Minister Makis Keravnos said. “Loan disbursements will start flowing as soon as possible, providing vital support for Ukraine’s most pressing budgetary needs.”
The flow of Russian oil to Slovakia through the Druzhba pipeline that crosses Ukraine has resumed, Slovak Economy Minister Denisa Saková said Thursday, a breakthrough in an issue that has caused a major diplomatic spat in Europe.
Populist Slovak Prime Minister Robert Fico welcomed the development, calling it “good news.”
“Let’s hope a serious relation between Ukraine and the European Union has been established,” Fico said. He thanked all those involved in solving the issue, including the European Commission and Hungary.
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Hungary and Slovakia were locked in a feud with Ukraine since Russian oil deliveries to Hungary and Slovakia through the pipeline were halted in January after the pipeline was damaged.
Ukrainian officials blamed the damage on Russian drone attacks.
Hungary’s nationalist Prime Minister Viktor Orbán, who was recently defeated in an election, accused Ukraine of deliberately delaying repairs — an allegation that Ukrainian President Volodymyr Zelenskyy denied.
Fico said Thursday he still didn’t believe the pipeline was damaged at all and alleged that the pipeline and oil “were used in the current geopolitical battle.”
Ukraine and most of its European backers oppose imports of Russian oil which have helped to fund Russian President Vladimir Putin’s war against Ukraine, now in its fifth year. But unlike the rest of the European Union, Hungary and Slovakia still depend on Russia for their energy needs.
For two months, the two countries have accused Ukraine of failing to repair the damaged pipeline. Citing the issue, Hungary blocked a massive EU loan to Ukraine while Slovakia refused to endorse new sanctions against Russia until the supplies resumed.
The flow resumed after three months at 2 a.m. Thursday, the Slovak economy ministry said, lifting a major obstacle to approving the EU funds for Ukraine later Thursday, just as EU leaders gather for a summit in Cyprus.
Ukraine desperately needs the 90-billion-euro (US$106 billion) loan package, originally agreed in December, to prop up its war-ravaged economy and help keep Russian forces at bay for the next two years.
Delayed deals
The 27-nation EU had originally intended to use frozen Russian assets as collateral for the loan. But that option was blocked by Belgium, where the bulk of the frozen assets are held.
In December, the Czech Republic, Hungary and Slovakia agreed not to stop their EU partners from borrowing the money on international markets as long as the three countries did not have to take part in the scheme.
But Orbán, who has repeatedly blocked EU aid to Ukraine, angered the other 24 countries by later reneging on that deal over the pipeline dispute and as campaigning heated up ahead of the April 12 election that he lost in a landslide.
The EU has also been trying since February to push through a new raft of sanctions against Russia, which Hungary and Slovakia have blocked due to the oil feud.
Fico said he expected both issues to be solved on Thursday.
Duke
April 23, 2026 at 1:35 pm
A lot of Cons/Putin love crying baby tears. Too funny.
No we just don’t like to see our tax dollars being wasted away. Thanks for coming out though.
100 billion dollar ‘loan’? they will never pay it back, the taxpayers can kiss that money goodbye
The people of Hungary are about to get a hard lesson on the consequences of voting for a leftist government.
Enjoy watching your tax dollars fly out the door.
Freeland must be on the phone with carney right now demanding carney to raise the pot. Wallets out canada!!
A lot of Cons/Putin love crying baby tears. Too funny.
Carney to the EU, oh yeah? Hold my beer
Countless sanctions from many countries levied against Russia/Russians, yet they don’t seem to deter anything. What exactly are the accomplishing?
I eat dicks for breakfast then I put my elbows in the carpet and get really freaky
Standard operating procedure. Taking money from poor people in rich countries to give to rich people in poor countries.
A lot of Russian dictator support among the Cons MAGA crowd. No surprise there. These traitors also support 51 state on giving Canada to the dictator down south. I trade you folks for an immigrant that loves and will fight for Canada.
Quick elbows up and join the EU so Canada can give away more money to launder with the peni$ piano playing president!
What a joke. How can they call this a loan Ukraine will never afford to pay this money back. Just say what it is money to help keep the war going. Will there be more money after 2 years. The of the EU and other countries which includes Canada can always find money for a war but no money to help people struggling living day to day with this economy. What a sad state of affairs this world is in because of the leaders we have.
More money for the comic dictator. No big deal just more wasted money and dead Ukrainians ….zelensky gets a new rolls Royce and you the tax payer get to pay for it .
This is so sad. The EU wants the war to continue. By giving Ukraine money (when do they think that the loans can be repaid?) to buy military equipment, Zelenskyy is feeling less pressure to negotiate an end. – so more people will needlessly die. – Such a sad thing.
Sanctions have not worked, and do not work. What more do they think they can sanction, beyond everything. The only thing not stopped completely is Russian oil. EU depends on it. If they sanction that, then they freeze in the dark. Hardly a wise move. They cannot steal money from Russia to help fund a war against them. That is beyond reason.