The European Commission is moving towards a potential agreement on a €90 billion loan for Ukraine, with discussions expected to conclude before the European Council meeting scheduled for March 19-20. The announcement was made by Commission spokesperson Paola Pinho.
Pinho indicated that the loan could be unlocked following Ukraine’s acceptance of EU assistance for the repair of the Druzhba pipeline, which is crucial for oil supplies to Hungary and Slovakia. “We hope to see progress in these discussions soon,” she stated.
In a recent letter dated March 16, European Commission President Ursula von der Leyen and European Council President António Costa offered Ukraine both technical and financial support to restore oil transit through the Druzhba pipeline. Ukrainian President Volodymyr Zelensky responded on March 17, estimating that it would take approximately six weeks to resume oil transit due to the damage caused by Russian strikes.
On the same day, EU leaders publicly confirmed the proposed assistance, noting that Kyiv had accepted the offer. However, Hungarian Foreign Minister Péter Szijjártó announced that Hungary would continue to block key EU decisions affecting Ukraine until the oil transit through Druzhba is restored.
Pinho emphasized the importance of technical experts being dispatched to Ukraine to ensure that necessary repairs are carried out promptly. She reiterated the EU’s commitment to supporting Ukraine in its recovery efforts.
The European Commission is nearing a decision on a €90 billion loan for Ukraine, contingent on the country's acceptance of EU aid for pipeline repairs. Discussions are expected to progress ahead of the upcoming European Council meeting.