Overview
- EU leaders endorsed a €90 billion interest-free loan to cover Ukraine’s needs in 2026–2027, to be raised on financial markets under EU budget guarantees.
- European Council President António Costa said Ukraine would begin repayment after Russia pays war reparations.
- Hungarian Prime Minister Viktor Orbán argued the loan will not change the situation, urged negotiations, and said Budapest did not take part in providing the funds.
- Ukraine’s foreign minister Andriy Sibiha castigated Orbán’s ambiguity over who attacked whom in 2022, invoking a 1939 historical parallel with Hungary’s leadership.
- The financing deal was backed by 24 of 27 EU members, underscoring divisions over how to support Ukraine and whether to lean on Russian assets.