EU Finalizes Ukraine Loan, Signals Next Steps on Accession Talks

April 24 ------ European Union leaders confirmed the adoption of a €90 billion ($105 billion) support loan for Ukraine and reiterated their commitment to increasing pressure on Russia, following a trilateral meeting between European Council President António Costa, European Commission President Ursula von der Leyen, and Ukrainian President Volodymyr Zelensky in Cyprus.

On Thursday, in a joint statement issued by the European Council, the leaders welcomed the formal approval of the Ukraine Support Loan, which will cover Ukraine’s budgetary and defense needs for 2026 and 2027. They stressed the importance of swift implementation and said they expect the first disbursement in the second quarter, while calling on third countries to help bridge remaining financing gaps. The leaders also welcomed the adoption of the 20th EU sanctions package, saying the measures aim to reduce Russia’s energy revenues, constrain its banking system, and curb shadow-fleet operations.

Zelensky said the support package and the new sanctions were “a great signal,” adding that the funds would strengthen Ukraine’s forces, boost air-defense production, and help protect the country’s energy system ahead of winter. Kyiv has previously emphasized the importance of EU funding to secure preparations for the winter season and energy protection efforts. The leaders also welcomed recent legislation adopted by the Ukrainian parliament that will unlock additional funding under the Ukraine Facility, while encouraging continued reform efforts under difficult wartime conditions.

The joint statement praised Ukraine’s progress on its EU accession path, with Ursula von der Leyen calling for the opening of negotiation clusters without delay. Separately, speaking to reporters ahead of the informal meeting of EU heads of state or government, Costa said the bloc had taken “two very important steps” by delivering on the €90 billion loan and increasing pressure on Russia through sanctions. “Now it’s time to look forward and prepare the next step,” Costa said, adding that the EU should formally open negotiations for Ukraine’s accession to the European Union.

The leaders also welcomed the announcement of a High-Level Meeting of the International Coalition for the Return of Ukrainian Children, to be co-hosted by the EU, Ukraine, and Canada in May, and to be located in Brussels.

Source: kyivpost.com