On April 22, ambassadors from European Union member states are set to review an amendment to the EU’s multiannual financial framework, a necessary step for the disbursement of a €90 billion loan to Ukraine. However, the country will not receive the first tranche of this funding in April, according to a spokesperson for the Cypriot presidency of the EU.
“In light of recent developments, the presidency has included the amendment to the multiannual financial framework (MFF) regulation as a non-negotiable item on the agenda for the EU ambassadors’ meeting on Wednesday, April 22,” the spokesperson stated.
Following approval, a written procedure will commence for final adoption of the amendment. Meanwhile, an EU diplomat indicated that Hungary is currently blocking the loan’s approval, citing a “new position from Orbán” regarding the funding.
“The situation is evolving rapidly. Just last week, the Hungarian ambassador stated that their position on the loan had not changed, but today we see a new stance from Orbán,” the diplomat remarked.
Another EU diplomat noted the urgency for Ukraine to expedite necessary reforms to secure the funding.
“Ukraine must maintain the momentum of reforms and keep up the pace, as there has been a noticeable slowdown, particularly concerning legislative reforms, and the Verkhovna Rada has become less productive in passing legislation,” the diplomat added.
Despite the possibility of Hungary lifting its veto on the loan soon, the first tranche is not expected to be disbursed before May. A source familiar with the matter indicated that while the European Commission had hoped to finalize negotiations on the bilateral loan agreement between Ukraine and the EU by the end of April, this timeline has now shifted to mid-May.
On April 1, European Commission spokesperson Balázs Ujvári stated that three additional documents must be approved to finalize the loan.
“The most critical among these is the Ukraine Financing Strategy, which outlines the payment amounts, their objectives, and channels. This document has already received approval from the European Commission. Additionally, a memorandum of understanding, an updated plan for Ukraine, and the bilateral loan agreement are being prepared,” Ujvári explained.
Previously, it was reported that on April 21, EU foreign ministers would discuss the €90 billion loan for Ukraine alongside the 20th package of sanctions against Russia. However, diplomats believe these matters should be addressed once Hungary’s new government is fully in place.
Background on the €90 Billion Loan to Ukraine
On December 19, 2025, EU leaders agreed to support Ukraine with a €90 billion package for the years 2026-2027. This loan will be backed by the EU’s budget reserve rather than frozen Russian assets.
On January 14, 2026, the European Commission approved a legislative proposal to facilitate this loan, aimed at covering Ukraine’s financial and military needs over the two-year period.
On January 21, the European Parliament endorsed a proposal allowing the activation of enhanced cooperation to establish the loan for Ukraine for the specified amount and timeframe.
On February 11, Members of the European Parliament voted in favor of three legislative acts enabling Ukraine to receive the loan in 2026 and 2027.
On February 20, it was reported that Hungary had blocked the EU loan to Ukraine due to the lack of oil transit from Russia through the Druzhba pipeline.
The Ukrainian Ministry of Foreign Affairs stated that Kyiv had informed Budapest about Russian shelling of the Druzhba pipeline in Brody, Lviv Oblast, and the subsequent damages as early as January 27, arguing that Hungary’s accusations of delays in supply were illogical.
Despite this, Hungarian Foreign Minister Péter Szijjártó claimed during an EU Council meeting on February 23 that Russia had not attacked the pipeline infrastructure and suggested that Ukraine had halted transit due to an “internal political decision.” The Ukrainian Foreign Ministry accused the Hungarian minister of making statements and actions that favored Russia.
On February 23, European Commissioner Valdis Dombrovskis informed that the EU was not considering alternative options regarding the €90 billion loan to Ukraine, which Hungary continues to block.
During the EU leaders’ summit on March 19 in Brussels, the Hungarian Prime Minister stated to reporters that Budapest would not support any EU decisions in favor of Ukraine until Kyiv restored oil transit through the Druzhba pipeline, which includes unblocking the €90 billion loan.
EU ambassadors are scheduled to discuss an amendment crucial for a €90 billion loan to Ukraine, although the first tranche will not be available until May. Hungary's ongoing blockade of the loan remains a significant hurdle, prompting calls for Ukraine to accelerate its reform efforts.