War in Ukraine: EU gives initial approval for a 90 billion euro loan to Kiev

The European Union has given a first green light, on Wednesday, April 22, for the payment of a 90 billion euro loan to Ukraine, confirmed the presidency of Cyprus to The Guardian. Cyprus, which holds the six-month presidency of the EU council, announced that it has initiated the procedure to reach an agreement of the Twenty-Seven and allow the first payments of this loan, which has been blocked by Hungary until now.

Budapest has agreed to start this procedure, but has always conditioned its final approval on the resumption of Russian oil deliveries, via a pipeline that crosses Ukraine and that Kiev put back into operation on Wednesday. Hungary has been blocking the payment of this loan for months, which is crucial for Ukraine to continue its war against Russia. This blocking is “the right signal in the current circumstances,” reacted Ukrainian President Volodymyr Zelensky.

The Druzhba pipeline crosses Ukraine, where it was damaged by Russian strikes in January. Hungary then accused Kiev of dragging its feet on repairs and decided to block the payment of this loan until it was again supplied with Russian oil. Ukrainian President Volodymyr Zelensky assured on Tuesday that it had now been repaired. The transit of Russian oil to Hungary and Slovakia resumed on Wednesday, announced a Ukrainian official from the energy sector to AFP.

The Twenty-Seven, including Hungary, must make a decision within 24 hours. Even before a final agreement on Thursday, several European officials have already welcomed “a long-awaited decision,” according to Lithuanian President Gitanas Nauseda. “Ukraine now has, for the foreseeable future, a stable foundation to push back the aggression war led by Russia,” said Stefan Kornelius, spokesperson for German Chancellor Friedrich Merz.