The European Union ​formally approved on Thursday (April 23, 2026) a 90-billion-euro ($105-billion) loan to Ukraine and new ⁠sanctions against Russia, ahead of an informal summit of the bloc’s leaders in Cyprus which Ukrainian President Volodymyr Zelenskyy attended.

The loan is set to cover two-thirds of Ukraine’s needs for the next two ‌years. Economists had said Ukraine would start to run out of money by June if the EU loan was not disbursed by then, requiring deep ‌cuts to public services.