European Union (EU) member states’ ambassadors on Wednesday approved a 90-billion-euro (105.6 billion U.S. dollars) loan package for Ukraine, according to reports citing sources from Cyprus, which currently holds the EU’s rotating presidency.
The decision forms part of continued European financial support to Kyiv amid the ongoing conflict, with the approved funding aimed at sustaining Ukraine’s economic and state functions.
In a parallel development, the ambassadors also reached agreement on a new round of sanctions against Russia, the reports added, further tightening the bloc’s restrictive measures.
According to officials, the final written procedure required to formalise both the loan package and the sanctions is expected to be completed on Thursday.
The latest measures come as the EU continues to coordinate its political, financial, and economic response to the evolving situation in the region.