# The European Union on Thursday formally approved a 1.7-trillion-rand loan to Ukraine and new sanctions against Russia, ahead of an informal summit of the bloc’s leaders in Cyprus which Ukrainian President Volodymyr Zelensky will attend. The loan is set to cover two-thirds of Ukraine’s needs for the next two years. European Commission chief Ursula von der Leyen said while Russia doubles down on its aggression, the EU is doubling down on support to the Ukrainian nation. Zelensky said the package will make Ukraine more resilient and enable the country to fulfil its obligations to Ukrainians.
EU formally approves Ukraine loan and 20th sanctions package against Russia