EU Approves $106 Billion Loan to Ukraine After Hungary Lifts Veto

The European Union approved a €90 billion ($106 billion) loan package for Ukraine on Thursday, after Hungary lifted its veto. The funds will support Ukraine's economic and military needs over the next two years. The EU also adopted new sanctions against Russia, delayed since February due to opposition from Hungary and Slovakia. The loan disbursement will begin as soon as possible, according to Cypriot Finance Minister Makis Keravnos. The political breakthrough followed the resumption of Russian oil flows to Slovakia via the Druzhba pipeline, which had been halted in January after a pipeline was damaged. Slovak Prime Minister Robert Fico welcomed the development as "good news." Hungary had previously blocked the loan, reneging on a December agreement.