Agreement for urgently needed loan reached after Ukraine resumed pumping Russian oil to Hungary and Slovakia

EU member states have reached agreement on unblocking an urgently needed €90bn (£78bn) loan for Kyiv and a new package of sanctions against Moscow after Ukraine resumed pumping Russian oil to Hungary and Slovakia, prompting Budapest to lift its veto.

Cyprus, which holds the bloc’s rotating presidency, said member states’ ambassadors had agreed to launch “written procedures” for the final approval of the loan and the sanctions package, with formal signoff on both due by Thursday afternoon.

Brussels will relax state aid rules to allow member countries to offer ‘targeted and temporary’ support

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The EU will cut electricity taxes and provide consumers with fresh incentives to ditch fuel-burning cars and boilers, the European Commission has announced, as the energy crisis from the Iran war speeds a shift to a clean economy.

The plan, which foresees tweaking rules so that electricity is taxed less than oil and gas, aims to bring down bills while encouraging the move away from polluting devices that prolong reliance on foreign fuels.

European Union formal procedures expected to conclude on Thursday as Druzhba pipeline reopens

During his press conference, Fico also doubles down on his criticism of the incoming Hungarian government led by Péter Magyar, in a further sign that the relations between Bratislava and Budapest could change dramatically in the next few months.

Fico has been close friends with Orbán, often teaming up with him on energy issues, but it doesn’t look like this Slovak-Hungarian partnership will continue under the new management in Budapest.