Hungary will appeal the transfer of the proceeds from frozen Russian assets to Ukraine, blocking another €6.6B in support.

Wednesday, June 26, 2024
Hungary will appeal the transfer of the proceeds from frozen Russian assets to Ukraine, blocking another €6.6B in support.

The Minister of Foreign Affairs of Hungary, Péter Szijjártó, said “the EU crossed a red line” by using €1.4B in Russian asset revenue to finance the supply of weapons to Ukraine, while “in reality, Hungary did not want this, and a unanimous decision would be required.” In addition, Hungary is delaying seven decisions on Ukraine totaling €6.6B in aid.

Moreover, in recent months the Hungarian prime minister has blocked or postponed consideration of a record number of foreign and security policy issues that require unanimity. Therefore, the Belgian Presidency of the Council of the EU, which will soon end its term, has proposed several options to circumvent or complicate Budapest’s use of the right of veto. It is the latest attempt to install safeguards against Orbán’s years-long campaign to ease EU sanctions against Russia and against the bloc’s financial and military support for Ukraine.

Hungary will take over the rotating EU Council presidency on July 1.

 

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