EU approves $100bn loan to Ukraine

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Global News Podcast 35 min 7 speakers 7 chapters transcribed 3 months ago
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Dr Paul Davis 0:00
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Celia Hatton 0:06
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What led to the EU approving a $100 billion loan to Ukraine?

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Celia Hatton 0:53
This is the Global News Podcast from the BBC World Service. I'm Celia Hatton, and at 1500 GMT on Wednesday, the 22nd of April, these are our main stories. A possible game-changer for Kiev. A $100 billion loan to Ukraine has been approved by the European Union, after Hungary dropped its veto on the money. Three container ships have been targeted by Iranian gunfire trying to transit the Strait of Hormuz. Plus, why the South Korean police are preparing to arrest the mogul who created the K-pop supergroup BTS. Also in this podcast... The Colombian mercenary help, technical facilitation of drones and other kind of firing techniques, helped the RSF take over the city. A new report says Colombian mercenaries backed by the United Arab Emirates helped Sudanese paramilitary fighters capture the city of El Fasher last year.
Celia Hatton 1:53
And how climate change might be affecting your ability to vote.
Sebastian Usher 1:57
Something like an earthquake or blood is going to mean that people are not located where they should be located when they need to go to the polling station.
Celia Hatton 2:11
We'll start with the development that could be crucial for Ukraine in its battle against Russia. European Union ambassadors have approved a promised $100 billion loan to Ukraine after Hungary dropped its veto. This marks the end to a long process. Budapest had blocked the money when it stopped getting Russian oil through the Druzeba pipeline, which crosses Ukraine. Kiev said the pipeline had been damaged. after a Russian strike, but now says the oil has started flowing again. Hungary's departing prime minister, Viktor Orban, had accused Ukraine of deliberately blocking the oil by failing to carry out repairs, an accusation Kiev denies. Karin Karlsbro is a Swedish MP for the Renew Europe group. She welcomed the decision to release the funds.
Celia Hatton 2:57
Ukraine is not only fighting for its own existence. Ukraine is fighting for us. And finally, the European Union could deliver.
Lise Doucette 3:07
But it's painful that some member states have blocked and slowed down the process. But finally, the decision we're taking.
Celia Hatton 3:16
And now we have to immediately prepare the next step to use the frozen Russian assets in our support to Ukraine. Our Europe correspondent Jessica Parker in Kiev told me both the EU money and the oil will soon start to flow. It seems like both are flowing imminently. So it looks like in terms of the oil along that section of the Drushba pipeline, that's going to get going again quickly. Today, tomorrow, not exactly clear, but imminently after President Zelensky last night said repairs have been completed. And look, we need to go back a bit to understand this story. It was late January that Kiev said Russian strikes had damaged this area, an oil hub and the pipeline that takes Russian oil through Ukrainian territory to Hungary and Slovakia.
Celia Hatton 4:13
And the oil stopped. Now, Hungary in particular, Viktor Orban, the outgoing prime minister, got very angry about this. He accused Kyiv of basically mounting an oil blockade. As you were mentioning, Viktor Orban, yes, he lost the recent election, but his government has maintained close ties with Russia. So his accusation, his government's accusation was that this was essentially political misconduct. Kiev said it was carrying out repairs. It's been dealing with lots of hits on its energy infrastructure. But the repair has now happened. And therefore, Viktor Orban signalled, as I say, the outgoing prime minister, that the block that he had put on this massive EU loan to Ukraine, that he was set to lift it, having previously held up that loan, which required unanimity at a European Council level amongst EU leaders.
Celia Hatton 5:07
Interesting. I mean, Jessica, you're speaking to me from Kiev right now. How important is this loan to Ukraine? Very important.

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