EU Approves $106B Loan to Ukraine, Sanctions Russia

0:00It's April 23rd. This is Canada News today, your AI-powered local news. The European Union just greenlit a 90 billion-year-old loan to Ukraine worth about $106 billion to cover its economic and military needs over the next two years. This came after Hungary dropped its veto, and the block also approved fresh sanctions on Russia for the war. Earlier this year, plans for those sanctions hit a wall, because Hungary and Slovakia blocked them amid a pipeline feud. Russian oil shimmers to those two countries through Ukraine stopped in January, when the drouged by a pipeline got damaged. Ukraine pointed fingers at. Russian drones. Meanwhile, the oil started flowing again at 2am on Thursday, easing tensions and clearing the path for the EU moves. Slovak Prime Minister Robert Fiko called a good news and hoped for better EU-Ukraine ties, while Hungary's Viktor Orbán had accused Kiev of dragging. Its speed on repairs, a claim Zelensky shot down.

1:01Ukraine's economy is battered from the fight, making this cash-infusion critical to hold off Russian advances. The loan was first hashed out in December, but stalled over frozen Russian assets and election drama in Hungary. With EU leaders meeting in Cyprus, both the funds and sanctions are now locked in, signaling a push forward despite the energy headaches that still. High Hungary and Slovakia to Russian supplies.