European Union ambassadors have agreed on a €90 billion loan for Ukraine alongside a new package of sanctions against Russia, confirmed the Cypriot presidency of the EU on Wednesday.
The decision was approved without debate. A written procedure is now underway, allowing Member States to raise objections until Thursday afternoon. If none are lodged, the measures will be formally adopted.
The agreement follows Hungary's decision to drop its veto. The country's previous Prime Minister Viktor Orbán had blocked the loan in protest over halted Russian oil supplies via the Druzhba pipeline, which serves Hungary and Slovakia.
Oil flows were disrupted earlier this year after damage to the pipeline on Ukrainian territory. Ukraine has now completed repairs, allowing supplies to resume. This appears to have met Hungary's key condition for lifting its opposition.
The dispute had also delayed a fresh round of EU sanctions on Russia, which were approved alongside the loan.
Ukraine is expected to need the funds by early June as it continues to defend itself against Russia's invasion.
