EU decides on key €90bn Ukraine loan after pipeline deadlock ends
Summary
The European Union is close to approving a €90 billion loan to help Ukraine after months of delay caused by a dispute with Hungary over Russian oil supplies. Hungary had blocked the loan until oil flow through the Druzhba pipeline was restored, but recent pipeline repairs and Hungary’s change in leadership have removed that obstacle.Key Facts
- The EU agreed in December to provide a €90 billion loan to Ukraine.
- Hungary, led by Viktor Orbán, blocked the loan in February due to halted Russian oil supplies through the Druzhba pipeline.
- Ukraine said the pipeline’s oil hub was damaged by Russian attacks and needed repairs.
- Hungary demanded oil flow resume before the loan was released.
- Recent reports say Ukraine repaired the pipeline, and oil supplies to Hungary and Slovakia will restart.
- Orbán lost a recent election, and the new Hungarian leader aims to improve relations with the EU.
- EU officials expect approval of the loan soon, emphasizing Ukraine’s urgent need for support.
- Two-thirds of the loan will fund Ukraine’s defense, with the rest for broader financial aid.
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