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The EU has finally approved a €90 billion support package for Ukraine

Dmitro Shevchuk
Dmitro Shevchuk Executive Editor
The EU has finally approved a €90 billion support package for Ukraine
EU loan
The European Union has officially approved a €90 billion loan for Kyiv and a 20th package of sanctions against Russia. The first tranche could be disbursed in May or June.

This was announced by Ukrainian President Volodymyr Zelenskyy and European Council President António Costa.

Speaking to journalists, Zelenskyy stated that the release of a €90 billion loan from the European Union is a priority for Ukraine, and Kyiv expects to receive the first tranche by the end of May or early June.

These funds will be directed towards weapons production, the procurement of necessary weapons from partners that are not yet manufactured in Ukraine, and the preparation of the energy sector and critical infrastructure for the coming winter.

In addition to releasing the €90 billion loan, on 23 April the EU also approved the 20th package of sanctions against Russia.

“The EU’s strategy for achieving a just and lasting peace in Ukraine is based on two main pillars: strengthening Ukraine and increasing pressure on Russia. Today we have made progress on both fronts,” wrote Koshta.

Hungary and Slovakia had previously blocked the adoption of both decisions, in particular by demanding that Ukraine resume oil transit via the Druzhba pipeline. The pipeline was filled on the morning of 22 April, and supplies will begin the following day, according to the Slovak Ministry of Economy.

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