EU Moves Forward with Ukraine Loan, Fresh Russia Sanctions

2026-04-23 01:43:31

(MENAFN) The European Union has reportedly moved forward with a substantial financial assistance package for Ukraine, alongside a new wave of sanctions targeting Russia, after Hungary withdrew its earlier objections, according to reports.

Ambassadors representing the bloc’s 27 member nations approved the measures on Wednesday, with formal adoption expected to follow through a written procedure on Thursday, as stated by reports.

The €90 billion (over $105 billion) loan package had previously been stalled due to opposition from Hungary, led by outgoing Prime Minister Viktor Orban, despite an earlier consensus reached in December.

Budapest’s resistance had emerged after Ukraine indicated that a Russian strike caused disruptions to oil transit through a significant pipeline. This led to claims that Kyiv’s actions were indirectly affecting the movement of Russian oil supplies.

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