The European Union has given initial approval, on Wednesday, April 22, for the disbursement of a 90 billion euro loan to Ukraine, as confirmed by the presidency of Cyprus to The Guardian. Cyprus, which holds the rotating presidency of the EU council, announced that the procedure has been initiated to reach an agreement among the Twenty-Seven and allow the first disbursements of this loan, which had been blocked by Hungary up to now.
Budapest has agreed to start this procedure, but has consistently conditioned its final approval on the resumption of Russian oil deliveries, through a pipeline that crosses Ukraine and was brought back into operation on Wednesday. Hungary had been blocking the disbursement of this loan for months, essential for Ukraine to continue its war against Russia. This blockade is “the right signal in the current circumstances,” reacted Ukrainian President Volodymyr Zelensky.
The Druzhba pipeline runs through Ukraine, where it was damaged by Russian airstrikes in January. Hungary then accused Kiev of dragging its feet in repairing it and decided to block the disbursement of this loan until it was once again supplied with Russian oil. Ukrainian President Volodymyr Zelensky confirmed on Tuesday that it had been repaired. The transit of Russian oil to Hungary and Slovakia resumed on Wednesday, as announced by a Ukrainian energy official to AFP.
The Twenty-Seven, including Hungary, are expected to make a decision within the next 24 hours. Even before a final agreement on Thursday, several European officials have already hailed “a long-awaited decision,” according to Lithuanian President Gitanas Nauseda. “Ukraine now has a stable foundation to repel the aggression war led by Russia for the foreseeable future,” declared Stefan Kornelius, spokesman for German Chancellor Friedrich Merz.
