The head of EU diplomacy Kaja Kallas believes in the quick approval of the 90 billion loan for Ukraine. Hope rose after Viktor Orbán’s electoral defeat.
The Head of Diplomacy of the European Union, Kaja Kallas, expressed optimism regarding the approval of a loan for Ukraine in the amount of 90 billion euros. According to her, this financial aid is crucial for Ukraine and she expects that the decision to release it will be positive. Kallas said this before the meeting of EU foreign ministers in Luxembourg. Hopes for the approval of the loan increased after the electoral defeat of Hungarian Prime Minister Viktor Orbán, who had blocked its approval until now.
- Head of EU diplomacy, Kaja Kallas, expects the approval of ninety billion for Ukraine.
- The hope of loan approval rose after Viktor Orbán’s electoral defeat.
- Hungary blocked the loan with a veto because of the dispute over the damaged Druzhba pipeline.
- Ukraine is to resume the transit of oil through Druzhba on the twenty-first of April.
- The approved loan is to finance the reconstruction of Ukraine and strengthen European solidarity.
Orbán’s government used the veto as a tool in the dispute with Ukraine, which concerned the resumption of oil transportation through the Druzhba pipeline. This pipeline was damaged during the war conflict in Ukraine, which was unleashed by Russia. According to Orbán, Ukraine has indicated its willingness to resume oil supplies if Hungary stops blocking the loan release.
Blockade and pipeline
The Eurocommissioner for the economy, Valdis Dombrovskis, said last week that Brussels expects the start of the loan release in the second quarter of this year. Meanwhile, Hungarian Minister for European Affairs János Boka announced that Ukraine will resume oil transit through Druzhba on April 21 at noon. This step could be the key to ending the dispute between Hungary and Ukraine.
European Commissioner for Enlargement Marta Kosová expressed her belief on Monday that the dispute over the oil pipeline could be resolved by Wednesday. The Cypriot Presidency of the Council of the EU subsequently informed that the member states will try to finally approve financial aid for Ukraine on Wednesday.
A key decision
The approval of the loan could significantly help Ukraine, which is facing the economic consequences of the war and needs financial resources to restore infrastructure and support the population. At the same time, the European Union is sending a signal of solidarity with Ukraine at a time when it is facing Russian aggression. It is expected that the decision to release the loan will have a significant impact on the further development of relations between the EU, Ukraine and Hungary.
