EU Unblocks €90B Ukraine Loan

The European Union has cleared a significant hurdle in its support for Ukraine, with ambassadors giving preliminary approval to a €90 billion ($106 billion) loan package.

The funding had been stalled for months by a Hungarian veto, which was finally withdrawn after Russian oil began flowing again through the Ukrainian section of the Druzhba pipeline.

This loan is considered vital for Kyiv’s ability to maintain its military and financial operations as the war with Russia continues.

Formal approval of the loan and a new package of sanctions against Moscow is expected to be finalized on Thursday.