The European Union has given final approval to pay out its €90 billion loan to Ukraine, bringing much-needed relief to the war-torn country.
The green light came after Hungary lifted its long-standing veto, allowing EU ambassadors to give their preliminary agreement on Wednesday. The decision became final on Thursday after no countries raised any last-minute objections, according to the EU’s rotating presidency, which Cyprus holds.
The decision marks the resumption of EU aid for Ukraine after months of vetoes from Hungarian Prime Minister Viktor Orban. EU ambassadors were also able to approve a fresh package of sanctions on Russia, which Hungary and Slovakia had separately been blocking.
Hungary and Slovakia relented after Ukraine repaired a pipeline that carries Russian oil to the two countries. Moscow damaged the pipeline in a January drone strike. Orban also lost reelection earlier this month in a landslide to Peter Magyar, who has promised to take a more pro-EU stance.
For Ukraine, the funds will provide critical support to purchase weapons and keep the state running for the next two years. The clock was ticking, as Kyiv is set to run out of cash in the coming weeks. Europe has become the country’s main financial and military aid provider since US President Donald Trump returned to office in 2025.
EU leaders will meet with Ukrainian President Volodymyr Zelenskiy on Thursday during a summit in Cyprus. In addition to Ukraine’s EU membership bid, the group will discuss ways to avoid aid blockages in the future.