A €90 billion ($106 billion) EU loan to Ukraine received preliminary approval from 27 EU countries on Wednesday after several months, during which Hungary exercised its veto, diplomats said.
Cyprus The EU president said final approval is to be given by all the bloc’s member states on Thursday.
The loan is intended to assist Kiev with its most urgent economic and military needs as it continues to fight against a full-scale invasion by Russia.
Druzhba pipeline at the center of controversy
The decision came after Kiev said the Druzhba pipeline, which runs through Ukraine, had resumed deliveries of Russian oil to Hungary and Slovakia.
If no oil arrives in the EU by Thursday, those two countries could theoretically halt the approval process.
Outgoing Hungarian Prime Minister Viktor Orbán and the Slovak government accused Ukraine of delaying repairs to the pipeline, a charge rejected by Kyiv.
Ukraine’s chances of receiving EU funding improved with Orban’s defeat in the April elections.
Although the leader of the winning party, Peter Magyar, is not expected to take office until next month, he has said he will no longer stand in the way of the loan.
Sanction on Russia also approved
Additionally, EU countries also agreed to the bloc’s 20th package of sanctions on Russia, which was delayed due to the dispute with Hungary.
The EU initially wanted to adopt the package on February 24 to mark the fourth anniversary of the Russian invasion.
The package aims to curb the Russian economy in order to reduce Moscow’s ability to finance the invasion.
Edited by: Shawn Sinico