EU leaders will welcome Ukrainian President Volodymyr Zelensky on Thursday in Cyprus to celebrate the release of a 90-billion-euro ($105 billion) loan for Kyiv after a prolonged deadlock.
Preliminary approval for the badly needed money came on Wednesday but a definitive sign-off is expected by Thursday, before European Union leaders hold talks with Zelensky in Cyprus’s Ayia Napa marina.
The funds were blocked after a bitter row broke out between Hungary’s nationalist premier Viktor Orban and Zelensky.
Orban said he would only lift his veto after Ukraine fixed a pipeline damaged by a Russian strike. After 16 years in power, Orban suffered a crushing election defeat to pro-EU opposition figure Peter Magyar in an election this month.
And the standoff was resolved when Zelensky said Tuesday repairs had been completed and officials said the next day that Ukraine had restarted pumping oil to Hungary and Slovakia.
Moscow ally Orban has frequently been a thorn in the EU’s side over Ukraine and EU officials hope on issues related to Kyiv, decisions will be made faster without his opposition.
Diplomats were relieved by Wednesday’s green light. One EU diplomat said Zelensky’s Cyprus visit was “symbolically important” now that the EU money will help support Kyiv against Russia in 2026 and 2027.
Orban, who will only step down next month, will not attend meetings in Cyprus on Thursday and Friday, which will be informal, with no concrete decisions expected.
