EU formally approves Ukraine loan and 20th sanctions package against Russia

BRUSSELS- The European Union on Thursday formally approved a promised 90 billion euro loan to Ukraine as well as a new package of sanctions against Russia, the bloc's Cypriot presidency said on social media platform X.

"The EU's strategy to achieve a just and lasting peace in Ukraine rests on two pillars: strengthening Ukraine; increasing pressure on Russia. Today we moved forward on both," European ​Council ⁠President Antonio Costa said in a separate post on X.

EU ambassadors had already approved the loan and the sanctions package on Wednesday after Hungary lifted its veto, paving the way for the formal approval.

- Lili Bayer, Charlotte Van Campenhout, Editing by inti Landauro/Reuters