EU Leaders to Decide on €90 Billion Ukraine Loan Package on March 19

Ukraine's Crucial Loan Hangs in the Balance

According to Главком: The European Council will decide on March 19 whether to unlock a €90 billion loan for Ukraine. This vital financial support is currently being blocked by Hungarian Prime Minister Viktor Orbán, who has linked his approval to the restoration of oil transit via the 'Druzhba' pipeline. Ukrainian officials estimate that the technical repairs required for this pipeline will take approximately one and a half months. This funding is part of the EU's broader effort to support Ukraine's economy amidst ongoing challenges.

Ukrainian President Volodymyr Zelenskyy has stated there is no alternative to this funding and attributed the delay to the actions of a single individual.

"We understand that one person is blocking this money (Orbán). Officially, there are no secrets here. I have had official talks with the EU. They told me that Ukraine must provide a date for its technical capabilities. Today, that date was announced. We need about a month and a half to have such a technical capability,"

Zelenskyy emphasized.

Awaiting EU Support

The President added that Ukraine respects the EU's understandable position.

"They said they were waiting for a date from us, we have named the date. We are waiting for the European Council meeting on March 19. The issue will be decided there. We are counting on a positive decision,"

he noted. The outcome of this meeting is highly anticipated, as it will signal the EU's continued commitment to Ukraine's stability.

Consequently, the decision on further financing for Ukraine will be made in two weeks, with the country hoping for a supportive outcome from the EU. The deliberation over this loan at the European Council underscores the critical importance of financial aid for Ukraine during this period. Hungary's blockage of the loan not only threatens Ukraine's economic stability but also tests the long-term relationship between Ukraine and the European Union. The decision made on March 19th could significantly influence regional developments and Ukraine's future integration into European structures.