EU Inches Toward Vital Ukraine Loan Amid Russian Oil Turmoil
EU diplomats are optimistic about resolving a deadlock over a €90 billion loan to support Ukraine's economy and military needs. Key to the breakthrough is Hungary's potential lift of its veto, contingent on the resumption of Russian oil supplies through Ukraine's repaired Druzhba pipeline.
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- Belgium
In Brussels, EU envoys convened on Wednesday, carrying cautious optimism about a long-stalled €90 billion loan to support Ukraine's military and economic needs amid its conflict with Russia.
The spotlight is on Hungary, which has blocked the package due to demands for Russian oil imports to resume through Ukraine. Hungary, alongside Slovakia, depends on Russian oil and has accused Ukraine of neglecting pipeline repairs, a situation linked with broader geopolitical tensions.
With Ukraine now reportedly completing the pipeline repairs, the EU awaits Hungary's confirmation to lift its veto, potentially paving the way for needed funds to bolster Ukraine's war-torn economy and defense capabilities.
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