Hungary is blocking billions of euros for Ukraine and is waiting for details from the EU regarding the G7’s decision to provide Ukraine with a €50 billion loan. Budapest does not plan to unblock the European Peace Facility until it receives details from the “Group of Seven.”
Why Hungary Opposes Aid to Ukraine
Hungary continues to block billions of euros for Ukraine, specifically regarding the use of frozen Russian assets.
What Plan Hungary Has
Hungary “expects” details from the EU regarding the G7’s decision to provide Ukraine with a €50 billion loan. The funds will be paid from the profits gained from frozen Russian assets. After that, Budapest might reconsider its position on the European Peace Facility. This was stated by Hungary’s Minister for EU Affairs, János Bóka.
“This agreement somewhat hinders the use of the European Peace Facility, at least when it comes to directing the loan to Ukraine. I believe that we will be able to reconsider our position on the European Peace Facility once we have full clarity on what and how will be used in the future,” he said.
According to him, the Hungarian government currently does not consider unblocking the European Peace Facility. First and foremost, Budapest wants to familiarize itself with the details of the “Group of Seven” decision.
Reminder! Hungary has been blocking the allocation of tranches from the European Peace Facility for over a year. During this time, the blocked amount has reached €6.5 billion. These funds were supposed to reimburse EU member states for the military aid provided to Ukraine.
