The Cyprus Presidency of the Council of the EU announced the completion of the necessary approval procedures on Thursday, finalizing a significant package that includes a €90 billion loan for Ukraine and the expansion of sanctions against Russia. This decision, anticipated in recent months, had previously faced delays due to issues achieving unanimity, though member state ambassadors reached consensus on Wednesday, allowing the final steps to conclude the following day. According to an EU Presidency spokesperson, the initial disbursement of funds to Ukraine will occur as soon as possible.
A statement from the Council of the EU detailed the allocation of the total loan amount: €30 billion is designated to cover Kyiv’s most immediate budgetary requirements, while the remaining €60 billion is earmarked to bolster Ukraine’s defense industrial capabilities. Furthermore, the Council approved the European Commission’s proposal to make €45 billion of the loan accessible during the second quarter of this year. European Council President Antonio Costa, Commission President Ursula von der Leyen, and European Parliament President Roberta Metsola all welcomed the developments.
Costa noted that the European strategy for achieving lasting peace has two components—strengthening Ukraine and increasing pressure on Russia—and that progress was made on both fronts. Von der Leyen emphasized that while Russia continues its aggression, the EU is increasing its support to Ukraine and simultaneously pressuring Russia’s war economy. These decisions were characterized by officials as crucial for safeguarding European security and advancing the path toward peace.
Topics: #final #approval #ukraine
The EU Council Presidency in Cyprus announced on Thursday the completion of necessary approval procedures, finalizing a substantial package that includes a €90 billion loan for Ukraine and an expansio