Cyprus EU Summit

European Council President Antonio Costa, background, is welcomed by Cypriot President Nikos Christodoulides ahead of the EU Summit in Ayia Napa, Cyprus, Thursday, April 23, 2026.

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EU approves a $106 billion loan package to help Ukraine after Hungary lifts its veto

EU approves a $106 billion loan package to help Ukraine after Hungary lifts its veto

The European Union has approved a $106 billion loan package to help Ukraine meet its economic and military needs for the next two years. The decision Thursday came after Russian oil began flowing again to Hungary and Slovakia through a key pipeline. “Promised, delivered, implemented,” European Council President António Costa posted on social media. The EU also approved new sanctions against Russia over its war on Ukraine. Hungary and Slovakia had opposed the loan and sanctions to a feud with Ukraine over halted Russian oil deliveries. Loan disbursements will start flowing soon, providing vital support for Ukraine’s budgetary needs.