Ukrainian President Volodymyr Zelensky has raised concerns regarding a blocked €90 billion loan from the European Union, which he states could significantly impact the country’s readiness for the winter season of 2026-2027. During a press conference with Bulgarian Prime Minister Andrey Gyurov, Zelensky emphasized the importance of this funding for Ukraine’s winter preparations.
Zelensky noted that while the Ukrainian budget has provisions for military funding and pension payments, the country is heavily reliant on the EU loan, which has been stalled by Hungary. He warned that without the release of these funds, Ukraine faces challenges in adequately preparing for the winter heating season.
“What risks do I see? The greatest are related to winter preparations, as there is a global energy plan aimed at protecting energy and water supply. This plan is designed to ensure that we complete everything necessary for winter, at least in terms of physical protection, which also includes various formats for air defense. The total required amount is $5.1 billion. We expected that this sum would be fully or partially covered by these funds,” Zelensky stated.
The president indicated that work on critical infrastructure was scheduled to commence on April 1, but the blockage of the loan has led to delays in these efforts.
“Currently, various tasks are being set to find financing. I believe that parliamentarians will work on some legislation. However, the decision regarding the first tranche of €45 billion will need to be made by European leaders, on whom we are counting,” Zelensky added.
The €90 billion loan was approved by EU leaders on December 19, 2025, to support Ukraine during 2026-2027. The loan is intended to be backed by the EU’s budget reserves rather than frozen Russian assets.
On January 14, 2026, the European Commission adopted a legislative package to facilitate this loan, aimed at addressing Ukraine’s financial and military needs over the next two years. Subsequently, on January 21, the European Parliament endorsed a proposal to activate extended cooperation for the establishment of the loan.
However, on February 20, it was reported that Hungary had blocked the loan’s disbursement, citing issues related to the transit of oil from Russia via the Druzhba pipeline. The Ukrainian Foreign Ministry responded by stating that Kyiv had informed Budapest about Russian attacks on the pipeline and the resulting damages as early as January 27, countering Hungarian claims of delays in oil supplies.
Despite this, Hungarian Foreign Minister Peter Szijjarto claimed during a European Council meeting on February 23 that Russia had not attacked the Druzhba pipeline infrastructure, suggesting that Ukraine had halted transit due to internal political decisions. Ukraine’s Foreign Ministry accused Szijjarto of making statements that favored Russian interests.
On February 23, European Commissioner Valdis Dombrovskis informed the media that the EU was not considering alternative options regarding the €90 billion loan, which remains blocked by Hungary.
During the EU leaders’ summit on March 19 in Brussels, the Hungarian Prime Minister reiterated that Budapest would not support any EU decisions favoring Ukraine until the oil transit through the Druzhba pipeline was restored, which includes the unblocking of the €90 billion loan.
President Zelensky has highlighted the potential risks to Ukraine's winter preparations due to a blocked €90 billion loan from the EU, which Hungary has stalled. The funding is crucial for maintaining energy security and critical infrastructure ahead of the winter season.