The European Union Council has unanimously approved amendments to its multiannual budget, facilitating a €90 billion loan to Ukraine and implementing a 20th sanctions package against Russia. This decision was confirmed by Cyprus, which currently holds the Council presidency, after completing the necessary written procedures that lasted over a day.
Cyprus Finance Minister Makis Keravnos stated, “The EU Council has approved the final necessary element to initiate the disbursement of the €90 billion loan to Ukraine. Payments will commence as soon as possible, providing crucial support for Ukraine’s most urgent budgetary needs. The EU remains steadfast in its support for Ukraine’s sovereignty and territorial integrity.”
On April 22, EU member state ambassadors had already endorsed the €90 billion loan for Ukraine alongside the sanctions against Russia. The completion of the written procedure was anticipated to conclude by midday.
In related news, Ukrainian President Volodymyr Zelensky announced that repairs on the Druzhba oil pipeline have been completed, allowing it to potentially resume operations. On April 21, he also held discussions with European Commission President Ursula von der Leyen and European Council President António Costa regarding the unblocking of the loan.
Following the recent parliamentary elections in Hungary, Péter Mátyás, leader of the Tisza party, indicated that he would lift the veto imposed by Prime Minister Viktor Orbán on the €90 billion loan to Ukraine. However, he emphasized that Hungary would not be financially responsible for this loan and expressed opposition to Ukraine’s expedited entry into the EU.
The EU Council has approved a significant financial package for Ukraine, including a €90 billion loan and new sanctions against Russia. This move underscores the EU's commitment to supporting Ukraine amid ongoing tensions.