EU unlocks loan to Ukraine
The EU’s 90 billion Euro loan to Ukraine has been unlocked
Leyla Cheamil, 30.04.2026, 13:50
The European Union has recently approved the pledged 90 billion Euro loan to Ukraine as well as the 20th sanction package against Russia after three months of vetoing from Hungary. The decision became possible only after Hungary had renounced its decision opening the way for formal approval. “The EU strategy to achieve a just and lasting peace in Ukraine rests on two pillars: strengthening Ukraine; increasing pressure on Russia. Today we moved forward on both,” the president of the European Council, Antonio Costa posted on X.
In turn the head of the EU diplomacy, Kaja Kallas says the deadlock has been overcome and Russia’s war economy is under extended pressure, while Ukraine is benefitting from major support. Hungary’s acceptance came after Ukraine had repaired the pipeline carrying Russian oil towards Hungary and Slovakia. It is unclear why the repairing process of the Druzhba pipeline lasted for three months after being damaged by the Russian bombings in January. All this time, Hungary blocked the release of the loan.
Budapest says that Ukraine deliberately delayed the process so that it may influence the Hungarian elections, which led to the defeat of Viktor Orban. On the other side, Ukraine says that Russia bombed its own pipeline repeatedly and its repair became hazardous for the workers involved. The aforementioned pipeline is carrying oil towards the only two EU countries, which still run contracts with Russia, Hungary and Slovakia, respectively, while the rest of the countries have banned this import in order to limit the money Russia uses to fund the war. The European financial support of 90 billion Euros will be offered to Ukraine as a loan and the country is to reimburse it only if Russia pays war compensations’, otherwise it will be paid by the bloc, with the exception of Hungary, the Czech Republic and Slovakia, which refused to join the guarantee mechanism. The Kyiv leader, Volodymyr Zelensky says the unblocking is the right signal under the present circumstances. He says that Moscow must end the war and the incentive can come only when support for Ukraine as well as the pressure on Russia are enough. The 20th package of sanctions against Russia is focusing on financial services, trade and energy, including the maritime transportation of oil and services related to the transport of Russian oil and liquefied gas. That means the other tankers part of the so-called shadow fleet, Russia is using to evade sanctions are going to be included on the EU’s black list.
(bill)
