Kyiv: Ukrainian President Volodymyr Zelenskyy announced that the implementation of a significant financial agreement with the EU, intended to unlock a £90 billion ($105.4 billion) loan for Ukraine, is now effectively underway.

According to Anadolu Agency, Zelenskyy made his remarks on the social media platform X, highlighting that efforts are also being made on a new sanctions package against Moscow amid the ongoing conflict between Russia and Ukraine.

Zelenskyy emphasized the importance of the loan, stating that its unblocking sends a crucial signal under current circumstances, asserting that sufficient support for Ukraine and pressure on Russia are necessary to bring an end to the war. He noted that Ukraine is meeting its obligations with the EU on sensitive issues, including the operation of the Druzhba oil pipeline, and expressed expectations that the EU will deliver what is needed for the protection and advancement of Ukraine's integration into Europe.

The Ukrainian leader stressed the urgency for the European support package to become operational swiftly, indicating Ukraine's intention to engage with European leaders about opening accession clusters for EU membership. The developments come as the EU reportedly approved the significant loan package and a new round of sanctions against Russia, following Hungary's decision to drop its opposition to both measures.

The decisions were reportedly endorsed by ambassadors from the EU's 27 member states, with formal confirmation expected through a written procedure. EU leaders had initially agreed on the financing arrangement for Ukraine during a European Council meeting in December, targeting financial support for the years 2026 and 2027.