Ukraine restarts Russian oil to Europe, unblocking 90-billion-euro EU loan
Summary
The European Union is set to approve a 90-billion-euro loan to Ukraine after Russian oil shipments restarted through the Druzhba pipeline to Hungary and Slovakia. The resumption of oil deliveries ended a dispute that had blocked the loan, which aims to support Ukraine’s economy amid the ongoing conflict with Russia.Key Facts
- The EU diplomats gave preliminary approval for the 90-billion-euro ($106 billion) loan to Ukraine.
- Russian oil deliveries resumed via the Druzhba pipeline to Hungary and Slovakia.
- Hungary and Slovakia had previously blocked the loan due to stalled pipeline operations.
- The pipeline was damaged by Russian attacks in January but is now operational again.
- Hungary’s new government plans to stop blocking EU funds for Ukraine.
- The loan helps maintain Ukraine’s financial stability through 2026 and 2027.
- The EU plans new sanctions against Russia targeting energy, banking, and trade.
- The Druzhba pipeline can carry about 1.2 to 1.4 million barrels of oil per day, potentially increasing to 2 million.
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