EU formally approves €90bn Ukraine loan and 20th sanctions package against Russia

Ursula von der Leyen hails ‘good news’ after Hungary’s lifting of vetoes allows leaders to sign off on agreements EU leaders have welcomed the end of diplomatic deadlock over a long-awaited €90bn (£78bn) loan for Ukraine, after the bloc completed the agreement along with a 20th sanctions package against Russia. After weeks of delay, the EU signed off on the loan on Thursday, in time for a summit in Cyprus that began in the evening and will include talks over a dinner with the Ukrainian leader, Volodymyr Zelenskyy. Ursula von der Leyen wrote on social media: “We are on our way to Cyprus with good news.” The European Commission president welcomed both agreements, finalised after Hungary lifted its veto. Von der Leyen said: “While Russia doubles down on its aggression, we are doubling down on our support to the brave Ukrainian nation, enabling Ukraine to defend itself and putting pressure on Russia’s war economy.” Speaking later, von der Leyen said she thought it would be possible to disburse the first tranche of the €45bn funding planned for 2026 in this quarter, meaning by the end of June. The first payment, she indicated, would fund Ukraine’s domestic drone p