EU eyes approval for €90B Ukraine loan on Wednesday
politico.eu • • world
Key Points:
- EU ambassadors are set to approve a €90 billion loan to Ukraine on Wednesday, contingent on the resumption of Russian oil transit to Hungary through the Druzhba pipeline.
- Hungary’s outgoing Prime Minister Viktor Orbán has agreed to lift his veto on the loan once the damaged pipeline, hit by a Russian strike in January, is operational again.
- Ukrainian President Volodymyr Zelenskyy announced the pipeline would be functional by the end of the month, with diplomats optimistic that oil flows could resume before the EU meeting.
- Approval of the loan would allow Kyiv to receive funds in May, providing crucial economic support amid ongoing conflict with Russia.
- The loan was initially agreed upon in December but blocked by Hungary in February due to a dispute over pipeline repairs, which Zelenskyy has now committed to resolving following Hungary’s recent election.
