EU Nations Considers Direct Loans to Ukraine to Sidestep Internal Dispute
The alternative approach comes as a response to opposition from Hungary and Slovakia, which have declined to support a broader EU initiative to provide approximately €90 billion in financing to Ukraine. Both governments have linked their stance to Ukraine’s decision to halt the transit of Russian oil through its pipeline network to their countries.
Ukrainian authorities maintain that shipments through the Soviet-era Druzhba pipeline were halted after the infrastructure was damaged in a Russian attack. Officials say repairs are unlikely to be completed until late April, a timeline that coincides with upcoming elections in Hungary. Hungarian Prime Minister Viktor Orban has accused Ukraine of deliberately triggering an energy crisis in an attempt to strengthen his political rivals.
Budapest’s refusal to support the collective EU loan package has been described as retaliation for what Hungarian officials view as interference. Slovakia has also indicated it would continue blocking the plan even if Orban’s political party were to lose power in the upcoming vote, according to statements from Slovak Prime Minister Robert Fico.
In response to the stalemate, several Baltic and Nordic countries are reportedly considering bilateral lending arrangements with Ukraine that could total €30 billion. According to reports, the intention is to provide financial relief and prevent Kiev from facing severe fiscal pressure.
Separately, Dutch Finance Minister Eelco Heinen has reportedly told other EU officials that the Netherlands plans to allocate €3.5 billion annually to Ukraine through 2029.
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