Brussels will have to cut the loan to Ukraine threefold if the Hungarians and Slovaks continue blocking the €90 billion package

EU countries may provide Ukraine with individual financing of €30 billion that would not require approval from all bloc members if Hungary and Slovakia continue to boycott the proposed €90 billion loan. The funds would be enough for Ukraine to get through until the end of June.

Politico reported this, citing EU diplomatic sources.

Next week, EU leaders will meet in Brussels and try to persuade Budapest and Bratislava—who have threatened to block the loan for Kyiv because of the halted deliveries via the Druzhba pipeline—not to veto the tranche. But if Hungarian and Slovak prime ministers Viktor Orbán and Robert Fico refuse to back down, the Baltic and Nordic countries reportedly have a plan to provide Ukraine with funds so it can stay afloat during the first half of the year. Kyiv would receive €30 billion through bilateral loans, which do not require approval by all EU members.

After the IMF allocates $1.5 billion, Ukraine should have enough funds until early May. The €90 billion loan is meant to cover two-thirds of the resources Ukraine needs through the end of 2027.

Meanwhile, in Kyiv and Brussels it is believed that if Orbán loses the elections, opposition leader Péter Magyar could be more inclined to approve the loan for Ukraine.

As a reminder, previously only Hungary was blocking the €90 billion loan, but on March 8 Slovakia said it would join Budapest if Kyiv does not restore oil deliveries through the Druzhba pipeline.