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On the fourth anniversary of Russia's invasion of Ukraine, the UK announced nearly 300 new sanctions, including targeting Transneft and Russia's shadow fleet of oil tankers, aiming to weaken Moscow's energy revenues and pressure Putin's war effort.
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In March 2026, Hungary detained seven Ukrainian bank employees and seized $40 million, €35 million, and 9 kg of gold en route from Austria to Ukraine, citing money laundering suspicions. This incident intensified Hungary's dispute with Ukraine over halted Russian oil shipments via the Druzhba pipeline. Hungarian PM Viktor Orbán, facing April elections, accuses Ukraine of delaying pipeline repairs; Ukraine condemns Hungary's actions as illegal and politically motivated.
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Hungary and Slovakia are constructing a 127 km pipeline to connect their refineries, aiming to improve energy supply amid Russian oil disruptions. The project, owned by Hungary's Mol Group, is expected to be completed by mid-2027. The move responds to ongoing tensions over Ukrainian pipeline access and Russian oil interruptions.
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As of March 26, 2026, Hungarian Prime Minister Viktor Orban continues to block a €90 billion EU loan to Ukraine, agreed in December, due to a dispute over the Druzhba oil pipeline damaged by Russian attacks. Despite Ukraine accepting EU technical support to repair the pipeline, Orban insists the loan be withheld until oil flows resume, using the issue as a key point in his April 12 election campaign.
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On April 23, 2026, the European Union has approved a €90 billion loan for Ukraine after Hungary lifted its veto following the repair of the Druzhba oil pipeline. The loan aims to support Ukraine's economy and defense amid ongoing conflict with Russia. EU leaders will discuss sanctions on Russia and energy price responses at a summit in Cyprus.
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The EU has formally approved a 90 billion-euro package to support Ukraine, covering two-thirds of its funding needs over the next two years. The approval follows the repair of the Druzhba pipeline and a resolution of internal EU disputes, ensuring vital financial and military support for Kyiv amid ongoing conflict.