Hungary has blocked an agreed €90 billion European Union loan for Ukraine aimed at stabilising the war-torn country’s finances, just days before the fourth anniversary of Russia’s full-scale invasion. The loan was agreed in December by EU leaders as a lifeline for Kyiv, which has a budget gap looming in April. An IMF programme worth €8 billion currently under negotiations is also conditional on Kyiv receiving the EU loan and could be endangered by the Hungarian veto. This week, he blamed Kyiv for halting flows via the Druzhba pipeline, which delivers oil from Russia to Hungary via Ukraine. Without the loan, Ukraine risks running into financial collapse in the second quarter.

Source: The Irish Times February 20, 2026 23:42 UTC