Orban lists conditions for unblocking €50 bln for Ukraine

Hungarian Prime Minister Viktor Orban said that he is ready to support the allocation of €50 billion by the European Union to Ukraine if Budapest receives all the funds frozen by the European Commission.

This is reported by Rubryka, referring to Bloomberg.

"This (discussion of financial assistance to Ukraine – ed.) to make clear that it must get all of what it's due," Orban said during a weekly radio interview from Brussels.

He added that when EU leaders meet again early next year to consider a €50 billion package for Ukraine, Hungary will first "make sure it gets all of its own funds."

The European Commission agreed this week to give Hungary a third of about €30 billion previously frozen over rule-of-law concerns after Budapest approved changes to the judiciary, strengthening the independence of the courts. At the same time, Peter Virovac, the economist of ING Bank in Budapest, noted that it would take about two more months for the money from the European Commission to start flowing into the accounts of the Hungarian government.

Orban also noted that although Hungary abstained from voting on the start of negotiations on Ukraine's EU membership, he still opposes this decision and is ready to veto Ukraine's entry into the bloc at a later stage.

We will remind you that in October, the European Parliament supported the initiative, which provides for the creation of the Ukraine Facility — a new financial instrument for Ukraine with a volume of up to €50 billion for the period from 2024 to 2027. However, Hungary vetoed it, offering EU member states to split the aid package and provide only half of the approved amount at first. Then, according to Budapest's plan, the EU states should assess whether to pay the rest of the aid depending on Ukraine's needs.

As Rubryka reported, Hungarian Prime Minister Viktor Orban vetoed the allocation of €50 billion from the EU budget for aid to Ukraine at a meeting of the European Council.