EU Formally Approves €90 Billion Ukraine Loan and 20th Russia Sanctions Package

The European Union formally approved its €90 billion ($106B) loan to Ukraine and its 20th package of economic sanctions against Russia on April 23, completing a breakthrough blocked for months by Hungary and Slovakia. Hungary's new Prime Minister Péter Magyar, who defeated Viktor Orbán in the April 12 election, lifted the veto as he had no intention of blocking EU funds not involving Hungarian money. The loan covers Ukraine's military and budgetary needs for 2026-2027, with half disbursed in 2026 and the remainder in 2027. The 20th sanctions package targets Russia's energy revenues — including groundwork for a future ban on maritime services for Russian crude oil — expands restrictions on the shadow tanker fleet, and adds 120 new individual listings. The diplomatic breakthrough was also enabled by Ukraine completing repairs to the Druzhba pipeline, restoring oil flow to Slovakia on April 23.