EU Nears Approval of €90 Billion ($106B) Loan Package for Ukraine

The European Union moved toward approving a €90 billion ($106B) loan package to cover Ukraine's military and financial needs for two years. The diplomatic breakthrough came following the April 12 electoral defeat of Hungarian Prime Minister Viktor Orbán — long the primary EU vetoist on Ukraine aid — by pro-European opposition leader Péter Magyar. With Hungary's blocking position removed, EU members reached broad consensus on the largest-ever single financial commitment to Ukraine. The package is designed to fund defense procurement, reconstruction, and budget support.