EU close to signing off on critical €90bn loan for Ukraine after months of vetoing from Hungary – Europe live

The EU is nearing approval of a crucial €90 billion loan for Ukraine after months of Hungarian opposition. Member states are meeting to discuss the loan, which has been delayed due to disagreements between Kyiv and outgoing Hungarian PM Viktor Orbán. The breakthrough follows Ukraine's confirmation that the Druzhba pipeline, vital for Russian oil imports to Hungary and Slovakia, has been repaired. EU officials anticipate a positive decision on the financial aid package within the next 24 hours. The loan is considered critical for Ukraine's continued stability and defense efforts.

Ukraine has announced the Druzhba pipeline, which transports Russian oil to Europe, is ready to resume operations after repairs from damage sustained during Russia's invasion. President Zelenskyy hopes this will lead to Hungary unblocking a 90-million-euro EU loan for Ukraine, which has been delayed due to Hungary's dependence on Russian oil. Hungary and Slovakia had previously accused Ukraine of delaying repairs to the pipeline, which was damaged in late January. The EU banned seaborne Russian oil imports but allowed land flows to continue. EU foreign policy chief Kaja Kallas anticipates a positive decision on the loan, with EU ambassadors expected to finalize its release.

Following Viktor Orban's ouster in Hungary, the EU anticipates progress on stalled foreign policy initiatives. Orban's government had previously blocked a 90-billion-euro loan to Ukraine and sanctions against violent Israeli settlers. Cyprus, holding the EU presidency, expects the Ukraine loan to be agreed upon at a Wednesday meeting, with a budget amendment and final adoption to follow swiftly. Orban had used the loan as leverage in a dispute with Kyiv over Russian oil supplies. The new Hungarian leader, Peter Magyar, has signaled a willingness to cooperate with the EU and called for the reopening of the Druzhba pipeline, suggesting a shift in Hungary's approach to these issues.