EU starts procedure to unblock loan for Ukraine - Hungary's veto on 90 billion euros is nearing its end
The European Union has officially launched the internal process to unblock a €90 billion loan for Ukraine and the 20th round of sanctions against Russia, bringing the standoff between Budapest and Kiev to an end. The so-called written procedure began on Wednesday afternoon during a meeting of ambassadors in Brussels. Member states have up to 24 hours to register any objections.
Cyprus, the country holding the rotating presidency of the Council of the EU, expects the procedure to be completed on Thursday afternoon, when a final decision could be announced.
Hungary or Slovakia could block unanimous approval if they chose to do so, but diplomats believe that is unlikely. Instead, EU diplomats believe a deal is almost certain after the restoration of the Druzhba oil pipeline, which is at the heart of the veto.
Ukrainian President Volodymyr Zelenskyy said on Tuesday that Soviet-era infrastructure, damaged in late January by Russian drones, has been repaired and can resume operations.
"The EU asked Ukraine to repair the Druzhba oil pipeline, which was destroyed by Russia. We have repaired it. We hope that the EU will also fulfill the agreed commitments," Zelensky said.
The €90 billion loan has been blocked for months by the outgoing Hungarian Prime Minister, Viktor Orbán, who has accused Kiev of blocking the flows for "political" reasons.
Orbán made his dispute with Zelenskyy over Druzhba a prominent theme in his explosive re-election campaign. However, the veteran prime minister was soundly defeated by opposition leader Péter Magyar on a promise to restore the rule of law, improve ties with the EU and unblock EU funds frozen by Brussels for violating the law.
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