Hungary's Defeat Unlocks €90 Billion Ukraine Loan as EU Leaders Gather in Cyprus

08:29 24/4/2026 - Πηγή: iEfimerida

European Union leaders have cleared the way for a long-blocked €90 billion loan to Ukraine at an informal summit in Cyprus, after Hungary's new government reversed its predecessor's veto following Viktor Orban's electoral defeat.

Greek Prime Minister Kyriakos Mitsotakis announced the breakthrough upon

arrival at the summit, hosted by Cypriot President Nikos Christodoulides.

Mr. Mitsotakis attributed the unblocking of funds to the change of government in Budapest, where Peter Magyar's election victory ended Mr. Orban's years-long obstruction of EU financial support for Kyiv.

"The fact that these resources will be released is an important step in the right direction," Mr. Mitsotakis said. "I am glad that Europe has been united for four years and is overcoming any obstacles that exist to support Ukraine."

The loan package, essential to keeping the Ukrainian state functioning and funding its defense against Russia's ongoing invasion, had been stalled for months by Mr. Orban's repeated vetoes — a position that isolated Hungary within the bloc and drew sustained criticism from EU partners.

Twenty-four of the 27 EU heads of state attending the Cyprus gathering are scheduled to hold talks with Ukrainian President Volodymyr Zelenskyy before concluding the summit with a working dinner focused on European defense coordination and the shifting global geopolitical landscape.

The Cyprus summit comes as EU leaders grapple with questions about long-term defense spending, the reliability of U.S. security guarantees under the Trump administration, and the need to establish a more autonomous European strategic posture.

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European Union leaders have cleared the way for a long-blocked €90 billion loan to Ukraine at an informal summit in Cyprus, after Hungary's new government reversed its predecessor's veto following Viktor Orban's electoral defeat.

Greek Prime Minister Kyriakos Mitsotakis announced the breakthrough upon arrival at the summit, hosted by Cypriot President Nikos Christodoulides.

Mr. Mitsotakis attributed the unblocking of funds to the change of government in Budapest, where Peter Magyar's election victory ended Mr. Orban's years-long obstruction of EU financial support for Kyiv.

"The fact that these resources will be released is an important step in the right direction," Mr. Mitsotakis said. "I am glad that Europe has been united for four years and is overcoming any obstacles that exist to support Ukraine."

The loan package, essential to keeping the Ukrainian state functioning and funding its defense against Russia's ongoing invasion, had been stalled for months by Mr. Orban's repeated vetoes — a position that isolated Hungary within the bloc and drew sustained criticism from EU partners.

Twenty-four of the 27 EU heads of state attending the Cyprus gathering are scheduled to hold talks with Ukrainian President Volodymyr Zelenskyy before concluding the summit with a working dinner focused on European defense coordination and the shifting global geopolitical landscape.

The Cyprus summit comes as EU leaders grapple with questions about long-term defense spending, the reliability of U.S. security guarantees under the Trump administration, and the need to establish a more autonomous European strategic posture.

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Hungarys Defeat Unlocks €90 Billion Ukraine Loan, EU Leaders Gather,Cyprus