EU promises €90 billion loan to Ukraine 'one way or the other' despite blockade
Photo: President of the European Commission Ursula von der Leyen (Getty Images)
Ursula von der Leyen, at a press conference following the EU leaders’ summit, stated that the European Union will provide Ukraine with a €90 billion loan “one way or the other,” despite Hungary’s blockade, according to The Guardian and Radio Liberty.
“The loan remains blocked because one leader is not keeping his word. But let me repeat what I already said in Kyiv. We will deliver one way or the other,” von der Leyen said.
President of the European Council António Costa also assured that Ukraine will receive the funds in one way or another.
According to him, leaders did not return to discussing the loan during the summit, but instead took the floor to “clearly condemn the position of Hungarian Prime Minister Viktor Orbán,” who backed away from his promise to support the loan.
“All leaders must keep their word. And no one can blackmail the European Council. No one can blackmail the institutions of the European Union. And we must implement this decision (on providing the loan to Ukraine),” Costa stressed.
Orbán blocks loan for Ukraine
Previously, Hungary had blocked the provision of a €90 billion EU loan to Ukraine. For the funds to be transferred, all EU member states must agree.
Budapest began blocking the loan after the Druzhba oil pipeline stopped operating following a Russian strike in late January.
Hungary claims that transit of Russian oil via the Druzhba pipeline was halted, allegedly at Ukraine’s initiative.
Recently, Ukraine accepted the EU’s proposal to repair the pipeline, which will be carried out with the EU's financial and technical support.
Despite this, Hungary continues to block the transfer of funds to Ukraine. Prime Minister Viktor Orbán said he would not lift the veto until Russian oil supplies through Ukrainian territory are restored.
Despite Hungary’s ongoing obstruction, the EU continues technical preparations to provide Ukraine with the €90 billion loan. Brussels is focused on ensuring that political obstacles do not halt the financial support process.
EU leaders gathered on March 19 in Brussels to discuss urgent issues, including the war in Iran and support for Ukraine. However, despite heated debates, they failed to persuade Viktor Orbán to lift his veto on the loan.
More details about what happened in Brussels, what the EU is counting on, and whether there is a plan B can be found in the RBC-Ukraine report.
