EU to Proceed with €90 Billion Ukraine Loan Despite Hungary’s Veto

Kyiv, Ukraine – February 24, 2026 – European Commission President Ursula von der Leyen affirmed the European Union’s commitment to providing a €90 billion loan to Ukraine, despite a veto from Hungary. The announcement came during a visit to Kyiv marking the fourth anniversary of Russia’s full-scale invasion.

Hungary’s Opposition and Pipeline Dispute

Hungary, under Prime Minister Viktor Orbán, is blocking both the €90 billion loan package and a recent round of sanctions against Russia. Orbán is demanding that Ukraine reopen a key oil pipeline, the Druzhba pipeline, which delivers Russian oil to Slovakia and Hungary. Ukraine maintains the pipeline was damaged on January 27th by Russian strikes [RTE].

Von der Leyen’s Resolve

Von der Leyen stated firmly, “Let me be crystal clear… the loan was agreed by 27 heads of state and government in the European Council. They have given their word. This word cannot be broken.” She added, “We will deliver on the loan one way or the other. We have different options, and we will use them,” [RTE], signaling the EU’s determination to circumvent Hungary’s veto.

Zelenskyy’s Plea and Pipeline Concerns

Ukrainian President Volodymyr Zelenskyy urged Orbán to negotiate directly with Russian President Vladimir Putin to halt attacks on the Druzhba pipeline or to agree to an “energy ceasefire” with Russia. Zelenskyy emphasized that Russia is responsible for the pipeline’s destruction and warned that further strikes are likely even after repairs are completed [RTE]. Von der Leyen too called for the acceleration of repairs to the pipeline [RTE].

Broader EU Concerns and Political Motivations

Hungary’s actions have drawn criticism from other EU leaders, with some accusing Budapest of “political sabotage” [The Guardian]. Ukraine’s relations with Hungary have been strained due to Orbán’s perceived political support for Russia, a situation exacerbated by upcoming parliamentary elections in Hungary in April [RTE].

Zelenskyy’s Call for EU Accession and Security Guarantees

In a video speech to the European Parliament, President Zelenskyy called for a firm date for Ukraine’s accession to the EU and the immediate implementation of the €90 billion loan package. He warned that failing to set a date for membership could allow Russia to obstruct Ukraine’s progress for decades [RTE]. Zelenskyy also emphasized the necessitate for clarified post-war security guarantees and tougher sanctions on Russian oil exports, as well as sanctions against senior Russian officials involved in the war [RTE].

Zelenskyy characterized Russian President Vladimir Putin as “war himself,” citing previous conflicts in Chechnya, Georgia, and Syria, and suggested Russia’s actions in Syria contributed to Europe’s migrant crisis [RTE].