Hungarian leader Viktor Orban's team will block the decision of the European Union, which will allow Ukraine to agree to a loan of 35 billion euros at the expense of frozen Russian assets.
Points of attention
- Hungary argues its position by the difference in the approaches of Kamala Harris and Donald Trump regarding the Russian Federation's war against Ukraine.
- Ukraine has been offered a loan plan of 35 billion euros at the expense of frozen Russian assets without the obligation to return the funds.
- Official Brussels planned to approve funds for Ukraine, but new problems arose.
Hungary is determined to block aid to Ukraine
The head of the Ministry of Finance of Hungary, Mihai Varga, made a statement on this matter.
He began to claim that the two candidates for the US presidency — Kamala Harris and Donald Trump — advocate opposite approaches to the settlement of Russia's war against Ukraine: "in the direction of peace and the continuation of the war."
According to Varga, official Brussels should plan the next steps depending on the results of the elections in the States.
We believe that this issue — the continuation of Russian sanctions (against Rosactivists. — ed.) — should be resolved after the elections in the USA. This is Hungary's position... We will have to see where the next US administration is headed on this issue.
Mihai Varga
Head of the Ministry of Finance of Hungary
Financial aid to Ukraine from the EU — details
As mentioned earlier, we are talking about a loan plan for Ukraine in the amount of 50 billion dollars.
It was agreed not so long ago by the leaders of the Group of Seven.
What is important to understand is that it will be repaid with profits from investing frozen Russian assets. For Ukraine, this is a de facto loan without the need for repayment.
As part of the plan, official Brussels intended to transfer 35 billion euros to Kyiv, but for this it is necessary to change the sanctions mechanism, which provides for the freezing of radioactive materials in the territory of the European Union.
Exactly how this extension should be formalized — indefinitely or, for example, for longer periods than the standard six months — was the subject of controversy in Brussels.
