Back to today’s briefing

Story perspectives

EU Releases €90 bn Ukraine Loan After Hungary Veto Falls

4/25/2026

33 4 Full Breakdown

Summary

Story summary

The European Union unlocked a €90 billion loan for Ukraine after Hungary’s veto fell when oil resumed through the Druzhba pipeline.
The loan will be disbursed in two €45 billion tranches covering 2026 and 2027.
Roughly one-third of each tranche will fund budget support while the remainder will finance defense.
Repayment will begin only after Russia pays war reparations.

History

Historical Context

In June 2024 the European Union opened accession talks with Ukraine and authorized the use of interest from frozen Russian bank assets, amounting to €2.5 billion annually. The EU then transferred €1.5 billion from those assets in July and pledged an additional €5 billion to its military-aid fund in March, underscoring a shift toward large-scale financial leverage to support Kyiv’s defense and reconstruction.

1 of 2

Story summary

The European Union unlocked a €90 billion loan for Ukraine after Hungary’s veto fell when oil resumed through the Druzhba pipeline.
The loan will be disbursed in two €45 billion tranches covering 2026 and 2027.
Roughly one-third of each tranche will fund budget support while the remainder will finance defense.
Repayment will begin only after Russia pays war reparations.

1 / 2