EU approves €90B Ukraine loan, new Russia sanctions after Hungary lifts veto

The European Union on Wednesday reportedly approved a €90 billion (over $105 billion) loan package for Ukraine along with its 20th round of sanctions against Russia, after Hungary dropped its opposition to both measures.

The decisions were endorsed by ambassadors from the bloc’s 27 member states and are expected to be formally confirmed through a written procedure on Thursday, EFE reported, citing European sources.

Hungary, led by outgoing Prime Minister Viktor Orban, had previously blocked the financial aid despite an agreement reached last December.

Budapest’s opposition followed Ukraine’s claim that damage caused by a Russian attack had disrupted oil transit through a key pipeline, prompting accusations that Kyiv was effectively hindering the flow of Russian oil.