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Hungary Drops Veto as EU Approves €90B Ukraine Loan

4/25/2026

50 12 Full Breakdown

Summary

Story summary

Oil resumed flow through the Druzhba pipeline to Hungary and Slovakia, leading Hungary to drop its veto.
EU leaders at the Cyprus summit approved a €90 billion loan for Ukraine, split into two €45 billion tranches, mainly for defence and the budget.
Prime Minister Viktor Orban said he would lift the veto once oil resumed, noting Slovak Prime Minister Robert Fico warned the loan might be unblocked to see supplies cut again.

History

Historical Context

After Russia halted gas shipments through Ukraine in January 2006 and again in January 2009—cutting 90 million cubic metres per day and costing Gazprom about $1.5 billion—the EU built contingency financing and pushed diversification. Today the EU’s €90 billion loan for Ukraine, approved after Hungary lifted its veto, extends that strategy, aiming to secure transit and bolster Ukraine’s defence.

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Story summary

Oil resumed flow through the Druzhba pipeline to Hungary and Slovakia, leading Hungary to drop its veto.
EU leaders at the Cyprus summit approved a €90 billion loan for Ukraine, split into two €45 billion tranches, mainly for defence and the budget.
Prime Minister Viktor Orban said he would lift the veto once oil resumed, noting Slovak Prime Minister Robert Fico warned the loan might be unblocked to see supplies cut again.

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