EU Approves €90bn Ukraine Loan

The approval of the multi-year loan package marks a significant breakthrough for Ukraine's war-ravaged economy and military efforts.

In addition to the funds, the EU has formally adopted its 20th package of sanctions against Russia, targeting more banks and industrial entities.

Ukrainian President Volodymyr Zelenskyy hailed the decision as fundamental, urging that the first tranche be disbursed by early summer.

The deal was reached during an informal summit in Cyprus, where leaders also discussed the systemic energy security threats posed by the ongoing war in Iran.