The European Union has formally approved a €90 billion loan to Ukraine alongside a new sanctions package against Russia, ahead of an informal leaders’ summit in Cyprus attended by President Volodymyr Zelenskyy.
European Commission President Ursula von der Leyen said the measures aim to reinforce Ukraine’s defence and increase pressure on Russia’s war economy.
The loan is expected to cover around two-thirds of Ukraine’s financing needs over the next two years, with disbursements split between 2026 and 2027.
- €90bn EU loan approved after Hungary lifted its veto
- Around €17bn annually allocated to public services, including health and education
- Majority of funds earmarked for military spending
- New sanctions package targets Russia’s war economy
Separately, EU leaders will discuss Middle East tensions, energy costs, and long-term budget planning, including proposals to stabilise gas supply without major market interventions.
ℹ️ Reuters
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