PARIS, April 23. /TASS/. The European Union is ready to begin disbursing the first tranches of €90 billion to Ukraine in mid-May, French Foreign Minister Jean-Noel Barrot said in an interview with France Info radio.

"We are ready to disburse the first tranches as early as mid-May, as soon as a final agreement is reached, which is expected to happen in the coming hours or days following the lifting of the Hungarian veto," he said.

Earlier, the Cypriot presidency of the EU Council confirmed that the 20th package of sanctions against Russia and the allocation of €90 billion to Kiev had been approved by EU member states’ ambassadors. The decision is set to be formally adopted by foreign ministers within 24 hours via a written procedure.