EU approves €90bn loan for Ukraine

At an informal summit in Cyprus, the European Commission confirmed that the first tranche of the €90 billion loan will be disbursed to Kyiv by June.

The funding is intended to cover two-thirds of Ukraine's budgetary requirements and bolster its defense capabilities, specifically for drone production.

President Volodymyr Zelenskyy welcomed the aid but cautioned that more support will be needed to counter the ongoing Russian offensive.

The package also includes a new round of sanctions against Moscow, marking the 21st package since the invasion began.