EU formally approves €90bn Ukraine loan and 20th Russia sanctions package
The European Union has formally approved the 90 billion euro loan for Ukraine and the twentieth package of sanctions against Russia, the Cypriot Presidency of the Council of the EU announced. Both dossiers had previously been blocked by Hungary.
EU ambassadors had already given their approval to both measures on Wednesday. A written procedure was then launched to finalise the decision-making process, with a deadline on Thursday afternoon for member states to raise objections. None did, and both the loan and the sanctions package were adopted unanimously.
The breakthrough follows Hungary's indication in recent days that it would drop its opposition. Prime minister Viktor Orban had blocked the 90 billion euro loan, citing the suspension of Russian oil supplies to Hungary and Slovakia via the Druzhba pipeline, which has now been resumed. The dispute had also led Budapest and Bratislava to hold up the twentieth sanctions package.
With the required amendment to the multiannual budget now approved, the Commission can use the budget as collateral to borrow on financial markets and disburse the first tranche of the loan to Ukraine before the end of this quarter. The EU plans to make 45 billion euros available for defence and budgetary support in both 2026 and 2027.
European Council president Antonio Costa and European Commission president Ursula von der Leyen both welcomed the decision. "We will now get to work quickly on both fronts," von der Leyen said.
Ukrainian accession
The approval comes just ahead of the informal EU summit on Thursday evening and Friday in Cyprus, which will be attended by Ukrainian president Volodymyr Zelensky. Earlier this week, he indicated his wish to discuss the formal opening of negotiation clusters for Ukraine's EU accession. Opening the thematic clusters requires the backing of all 27 member states, which Hungary had vetoed.
With Orban's election defeat, progress on that front is now widely expected. But resistance remains among several member states to an accelerated accession of Ukraine. Both the Commission and several European governments insist the process must remain strictly merit-based.
The summit's agenda includes the first discussions on the EU's next multiannual budget, as well as meetings with leaders from Egypt, Jordan, Syria and Lebanon. Member states will also discuss the war in Iran, including Europe's role in de-escalation and peacebuilding, as well as freedom of navigation in the Strait of Hormuz and rising energy prices.
#FlandersNewsService | PHOTO © Tetiana DZHAFAROVA / AFP
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