EU Unblocks €90 Billion Loan for Ukraine as Zelensky Arrives in Cyprus
Ukrainian President Volodymyr Zelensky has welcomed the European Union's formal approval of a €90 billion support loan for Ukraine, after months of deadlock caused by Hungary's veto.
The funding package, which had been stalled by outgoing Hungarian Prime Minister Viktor Orbán, was formally adopted by EU leaders alongside a new sanctions package targeting Russia.
The Breakthrough
"Today is an important day for our defence and for our relations with the European Union. The European support loan for Ukraine has been unblocked — EUR90 billion over two years."
— Volodymyr Zelensky, via X
Zelensky called for the first portion of funds to be released by May or June, stressing that Ukraine had been seeking this level of financial certainty after more than four years of full-scale war.
How the Money Will Be Spent
The €90 billion will be split across two years:
Half distributed in 2026, the remainder in 2027
Majority allocated to military spending
Approximately €17 billion per year for general budget needs — healthcare, education, and public services
Zelensky outlined the priorities:
Arms production
Procurement of weapons Ukraine cannot yet produce domestically
Preparation of energy sector and critical infrastructure for the coming winter
Why It Matters
Economists had warned Ukraine could begin running out of money by June 2026 without EU support, potentially forcing severe cuts to public services. The funding is expected to cover roughly two-thirds of Ukraine's financial needs over the next two years.
EU Leaders' Statements
"While Russia doubles down on its aggression, we are doubling down on our support to the brave Ukrainian nation."
— Ursula von der Leyen, European Commission President
"The EU's strategy to achieve a just and lasting peace in Ukraine rests on two pillars: strengthening Ukraine; increasing pressure on Russia. Today we moved forward on both."
— Antonio Costa, European Council President
"Deadlock over."
— Kaja Kallas, EU Foreign Policy Chief
Context
The approval comes as Zelensky arrived in Cyprus for a meeting with EU leaders, including Taoiseach Micheál Martin. Russia has repeatedly targeted Ukraine's power grid over the winter, leaving millions without heat or electricity in temperatures as low as -20°C.
Ukrainian Energy Minister Denys Shmygal said the resources would help sustain the power system, protect critical infrastructure, and accelerate recovery.
Note: While the €90 billion provides crucial support, economists and officials indicate additional funding may still be required to meet military demands this year.
LTT Media — Reporting the facts as they stand. Source: The Liberal / RTÉ.