The European Union on Thursday approved a large loan package to assist Ukraine meet its economic and military needs for the following two years, the bloc\u2019s Cypriot presidency said, after Hungary lifted its veto.<\/p>\n
The EU also approved a brand new raft of sanctions against Russia over its war on Ukraine. The measures were prepared early this yr and set to be announced in February to mark the fourth anniversary of the conflict, but Hungary and Slovakia opposed the move.<\/p>\n
Hungary and Slovakia have been locked in a feud with Ukraine since Russian oil deliveries to the 2 EU countries were halted in January after a pipeline was damaged. Ukrainian officials blamed the damage on Russian drone attacks.<\/p>\n
Ukraine desperately needs the 90-billion-euro (US$106 billion) loan package to prop up its war-ravaged economy and help keep Russian forces at bay. Hungary angered its EU partners by reneging on a December deal to offer the funds.<\/p>\n
Story continues below commercial<\/p>\n<\/p><\/div>\n
\u201cToday the Council approved the ultimate element needed to permit for the disbursement of the 90-billion-euro loan for Ukraine,\u201d Cypriot Finance Minister Makis Keravnos said. \u201cLoan disbursements will start flowing as soon as possible, providing vital support for Ukraine\u2019s most pressing budgetary needs.\u201d<\/p>\n
The flow of Russian oil to Slovakia through the Druzhba pipeline that crosses Ukraine has resumed, Slovak Economy Minister Denisa Sakov\u00e1 said Thursday, a breakthrough in a problem that has caused a serious diplomatic spat in Europe.<\/p>\n
Populist Slovak Prime Minister Robert Fico welcomed the event, calling it \u201cexcellent news.\u201d<\/p>\n
\u201cLet\u2019s hope a serious relation between Ukraine and the European Union has been established,\u201d Fico said. He thanked all those involved in solving the difficulty, including the European Commission and Hungary.<\/p>\n
![\"Get](\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/images\/skyline\/national.jpg\")
\n\t\t\t\t<\/div>\nGet each day National news<\/h2>\n
Get each day Canada news delivered to your inbox so you will never miss the day’s top stories.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n
Hungary and Slovakia were locked in a feud with Ukraine since Russian oil deliveries to Hungary and Slovakia through the pipeline were halted in January after the pipeline was damaged.<\/p>\n
Ukrainian officials blamed the damage on Russian drone attacks.<\/p>\n
Hungary\u2019s nationalist Prime Minister Viktor Orb\u00e1n, who was recently defeated in an election, accused Ukraine of deliberately delaying repairs \u2014 an allegation that Ukrainian President Volodymyr Zelenskyy denied.<\/p>\n
Fico said Thursday he still didn\u2019t consider the pipeline was damaged in any respect and alleged that the pipeline and oil \u201cwere utilized in the present geopolitical battle.\u201d<\/p>\n
Story continues below commercial<\/p>\n<\/p><\/div>\n
Ukraine and most of its European backers oppose imports of Russian oil which have helped to fund Russian President Vladimir Putin\u2019s war against Ukraine, now in its fifth yr. But unlike the remainder of the European Union, Hungary and Slovakia still depend upon Russia for his or her energy needs.<\/p>\n
For 2 months, the 2 countries have accused Ukraine of failing to repair the damaged pipeline. Citing the difficulty, Hungary blocked a large EU loan to Ukraine while Slovakia refused to endorse recent sanctions against Russia until the supplies resumed.<\/p>\n
The flow resumed after three months at 2 a.m. Thursday, the Slovak economy ministry said, lifting a serious obstacle to approving the EU funds for Ukraine later Thursday, just as EU leaders gather for a summit in Cyprus.<\/p>\n
Ukraine desperately needs the 90-billion-euro (US$106 billion) loan package, originally agreed in December, to prop up its war-ravaged economy and help keep Russian forces at bay for the following two years.<\/p>\n
\n\t\t\t