ISLAMABAD: Volodymyr Zelensky is set to meet European Union leaders in Cyprus on Thursday following the breakthrough approval of a €90 billion ($105 billion) financial package for Ukraine after months of deadlock.
The long-delayed funding, seen as vital for Kyiv’s economic and defence needs, received preliminary approval on Wednesday, with final endorsement expected ahead of talks in Ayia Napa marina.
The impasse had stemmed from a dispute between Zelensky and Hungary’s outgoing prime minister, Viktor Orban, who had blocked the package. Orban demanded repairs to a pipeline damaged in a Russian strike before lifting his veto.
The situation was resolved after Ukraine confirmed the repairs and resumed oil transit to Hungary and Slovakia, paving the way for consensus within the bloc.
Diplomats described Zelensky’s visit as “symbolically important” given the renewed financial backing for Ukraine’s resistance against Russia through 2026 and 2027.
Strategic dialogue
Orban, who recently lost an election to pro-EU leader Peter Magyar, will not attend the Cyprus meetings, which are expected to be informal and focused on strategic dialogue rather than binding decisions.
Beyond Ukraine, leaders will also address broader geopolitical concerns, including the Middle East conflict and its economic impact, particularly rising energy costs linked to disruptions in the Strait of Hormuz.
Regional leaders, including Joseph Aoun and Abdel Fattah al-Sisi, are expected to join discussions on Friday, reflecting the EU’s expanding diplomatic engagement.
European officials said the bloc was “ready to contribute” to ensuring stability in key trade routes, adding: “We certainly hope that the ceasefire is kept and maintained.”
The summit will also initiate talks on the EU’s next long-term budget, with divisions emerging between France and Germany over spending priorities.
