EU approves 90-bln-euro loan for Ukraine

BRUSSELS -- European Council President Antonio Costa said on Thursday that the European Union (EU) has approved a 90-billion-euro ($105 billion) loan package for Ukraine, along with a 20th round of sanctions against Russia.

"The EU's strategy to achieve a just and lasting peace in Ukraine rests on two pillars: strengthening Ukraine; increasing pressure on Russia," he wrote on social media platform X.

According to a statement by the Council of the EU, the loan will cover Ukraine's most urgent budgetary and defence industrial capacity needs in 2026 and 2027 under a robust and conditional framework. Funding will be linked to strict conditions on Ukraine's side, such as adherence to the rule of law, including the fight against corruption.

In February, the European Parliament voted in favor of the 90-billion-euro loan to meet Ukraine's financial needs for 2026 and 2027. However, some countries blocked the package, citing Ukraine's suspension of Russian oil transit via the Druzhba pipeline.

According to media reports, the Druzhba pipeline has resumed oil transit to Slovakia and Hungary.