EU Greenlights €90 Billion Ukraine Loan After Pipeline Dispute Resolution

The EU has given preliminary approval to unblock a €90 billion loan for Kyiv, following a months-long dispute between Ukraine and Hungary over a damaged pipeline. Budapest was given 24 hours to definitively sign off, pending the arrival of Russian oil via the Druzhba pipeline, after Kyiv confirmed operations had restarted.

The feud, which pitted Hungarian Prime Minister Viktor Orban against Ukrainian President Volodymyr Zelenskyy, had stalled crucial funds for Kyiv. Orban had insisted on the pipeline's repair, which was hit by a Russian strike, before releasing the funds. Ukraine restarted pumping oil to Hungary and Slovakia today, a day after Zelenskyy announced repairs were completed.

Separately, Ukraine is seeking face-to-face talks between Zelenskyy and Putin, with Kyiv's top diplomat suggesting a summit could revitalize US-led peace efforts. Ukraine has asked Turkey and other capitals to facilitate and host such talks, excluding Russia and Belarus. Past US-mediated talks have made little progress on key issues, including the future of four Ukrainian regions Moscow seeks to control.

With US attention on the Iran war, these talks are paused. Zelenskyy accepted an unconditional ceasefire demanded by US President Donald Trump, but Putin refused, believing Western support for Ukraine will diminish. A war of attrition continues along the 1,250-kilometre front line in eastern and southern Ukraine, with Russia reportedly suffering tens of thousands of casualties monthly, though independent verification is unavailable. Ukraine is developing its domestic arms industry, producing long-range drones and missiles to strike Russian oil production and manufacturing plants.