EU Approves €90bn Loan for Ukraine and New Russia Sanctions

EU ambassadors cleared the measures after Hungary lifted its veto, allowing the bloc to press ahead with support for Kyiv while tightening pressure on Moscow.

Ukrainian President Volodymyr Zelensky and European Commission President Ursula von der Leyen. Photo: Nicolas Economou/NurPhoto via Getty Images

Ukrainian President Volodymyr Zelensky and European Commission President Ursula von der Leyen. Photo: Nicolas Economou/NurPhoto via Getty Images

The European Union on Thursday formally approved a €90bn loan for Ukraine and a new package of sanctions against Russia, the Cypriot presidency of the Council of the European Union said on social network X.

“The EU’s strategy to achieve a just and lasting peace in Ukraine rests on two pillars: strengthening Ukraine and increasing pressure on Russia. Today we have made progress on both”, European Council President Antonio Costa said on X.

The Cypriot presidency confirmed on Wednesday that the loan had received preliminary approval, adding that final confirmation would follow through a written procedure within hours.

The funding is intended to cover Ukraine’s most pressing economic and military needs and support its defence against the Russian invasion.

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