Zelenskyy outlines how €90B reparations credit will fund army, aid and weapons production

Zelenskyy said the first tranche of funds is expected by late May or early June.

He said the money would be used for social support, the development of the defense industry — including the production of drones and electronic warfare systems — and the purchase of critical weapons from partners.

“We are also working on the next sanctions and believe everything will be unblocked. Ukraine has done everything it promised within the timelines it set,” the president added.

On April 22, EU ambassadors agreed at a meeting to provide Ukraine with a 90 billion euro loan and approved the 20th package of sanctions against Russia. Final approval is expected after a written procedure of the EU Council, due to be completed on April 23.

Earlier, Hungarian Prime Minister Viktor Orbán had blocked the legislative act on changes to the regulation for providing the loan to Ukraine, as well as the 20th sanctions package, using the requirement for unanimity. He demanded the restoration of the Druzhba pipeline, damaged in a Russian attack in January, through which Hungary and Slovakia receive Russian oil.

On April 13, Péter Magyar, leader of Hungary’s opposition Tisza party, which won the parliamentary elections, said he supports the agreement on the 90 billion euro loan for Ukraine, which allows Hungary to opt out of financing.

On April 22, it was reported that Ukraine had completed repairs on the Druzhba pipeline and restored its operation.