According to the Cypriot EU presidency, the sudden movement in the sluggish handling of the issue is due to “recent developments.”
Malmer Stenergard says in a written statement that "Hungary's obstruction has put a damper on things," and that the announcement from the Cypriot presidency is therefore welcome.
"The government has worked to ensure that the EU proceeds with the loan as soon as possible. It is crucial for covering Ukraine's needs, and it is a matter of European security," says the Foreign Minister.
Approval of the loan has been blocked by Hungary's outgoing Prime Minister Viktor Orbán. On Sunday, he wrote on X that Hungary has now received signals from Kyiv that oil deliveries can resume - and that Hungary can then let the loan go through.
On Monday, Hungary's incoming Prime Minister Péter Magyar confirmed that the blocking of the loan will be lifted as soon as the Russian gas pipeline is back in use, The Guardian reports.
If the ambassadors give the go-ahead on Wednesday, a written procedure will be initiated to formally approve the loan, equivalent to just over SEK 969 billion.
The decision must be taken unanimously, but Hungary does not have to say yes. It is enough for the country not to say no, but to abstain.
French President Emmanuel Macron says he is “reasonably optimistic about the sound progress and implementation” of the loan following Viktor Orbán’s election defeat in Hungary on April 12.
