The European Union has formally approved a €90 billion ($105 billion) emergency loan package for Ukraine covering the 2026–2027 periods, while simultaneously adopting its 20th round of sanctions against Russia. The decisions, finalized on April 23, underscore the bloc’s continued commitment to supporting Kyiv financially and militarily, while intensifying economic pressure on Moscow amid the ongoing conflict.

The announcement was confirmed by Antonio Costa, President of the European Council, who emphasized that the dual-track approach-combining financial aid with punitive measures-forms part of a broader EU strategy to secure what he described as a “just and lasting peace in Ukraine.” In a public statement, Costa said increasing pressure on Russia remains essential to shifting the dynamics of the conflict and encouraging a diplomatic resolution.

The approval process followed a critical breakthrough in negotiations after Hungary lifted its long-standing veto on both the loan and sanctions package. The change in position came in the wake of a domestic political shift, with pro-EU politician Peter Magyar winning a recent parliamentary election and preparing to assume leadership of the Hungarian government. His anticipated administration is widely seen as more aligned with Brussels compared to the outgoing leadership.

For months, the proposed loan had been stalled due to opposition from Hungary under Prime Minister Viktor Orban. Orban had blocked the disbursement of funds to Ukraine, citing both economic and political concerns. His government argued that continued financial support to Kyiv placed undue strain on EU taxpayers and risked prolonging the war. Tensions escalated further after Ukraine halted oil supplies through the Soviet-era Druzhba pipeline earlier this year, prompting Hungary to retaliate by freezing its........

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