EU countries are considering an alternative plan to provide Ukraine with much-needed help in its fight against Russia if Hungary vetoes the current €50B funding proposal. According to Bloomberg, the proposal will involve national guarantees for member states to raise funding in the markets if Budapest blocks the EU’s long-term budget review, which includes the package and requires unanimity.
Kremlin-friendly Hungarian Prime Minister Viktor Orbán is counting on the quick allocation of at least part of the more than $30B for his country that the EU froze last year over fears over the nation’s retreat from democracy. Hungary told EU member states this week that it wants to assess the amount of financial aid and risk factors such as corruption.
Some countries favor finding an alternative funding solution for Ukraine as soon as possible to increase pressure on Orbán.