The European Union has approved its twentieth package of sanctions against Russia over its war in Ukraine, alongside a €90 billion loan intended to support Kyiv over the next two years. The measures were finalized ahead of a summit in Cyprus attended by Ukrainian President Volodymyr Zelensky.

The new sanctions target more than 40 vessels believed to be part of Russia’s shadow fleet transporting oil, as well as additional banks and cryptocurrency use. Around 60 more entities were added to the sanctions list, bringing the total number of sanctioned Russian officials and organizations to more than 2,600. The measures aim to curb oil revenues that underpin Russia’s economy and military spending.

Approval of the package followed the resumption of Russian oil deliveries to Hungary and Slovakia through the Druzhba pipeline, ending months of objections from the two countries. European leaders said the loan would cover roughly two-thirds of Ukraine’s financial needs and help avoid severe public spending cuts.

Russia condemned the sanctions, arguing they would harm global energy markets, food security and developing countries, and pledged retaliatory action. European leaders reiterated their commitment to supporting Ukraine militarily and economically while advancing its bid to join the bloc.