European Union Plans to Allocate €90 Billion Loan for Ukraine

The resumption of supplies via the Druzhba pipeline raised the issue of a €90 billion loan for Ukraine, which had been blocked by Hungary. On April 22, Budapest withdrew its objections, and the permanent representatives of EU member states agreed to grant the loan.

Final approval is expected on April 23 during an informal summit of EU leaders in Cyprus. This is the first time the island nation has hosted an event of this level since joining the EU in 2004. Participants plan to discuss the geopolitical situation: the conflict in Iran and the situation in the Middle East, as well as the EU budget. According to the Financial Times, the budget is almost completely depleted.