The Cypriot presidency of the European Union announced via the X platform that the bloc officially approved on Thursday a €90 billion loan for Ukraine, in addition to a new package of sanctions against Russia.

President of the European Council Antonio Costa said in a separate post on X: “The European Union’s strategy to achieve a just and lasting peace in Ukraine is based on two pillars: supporting Ukraine’s position and increasing pressure on Russia. Today, we made progress on both.”

EU ambassadors had already approved the loan and sanctions package on Wednesday after Hungary withdrew its objection, which had previously prevented unanimous approval, paving the way for the formal adoption.

(Reuters)