The European Council insists on freezing Russian assets until the end of the war, but Orbán will not allow the sanctions regime to be adjusted.

The conclusions of the European Council that were approved following a meeting with the participation of EU leaders on October 17 in Brussels emphasize the importance of fulfilling commitments to provide, together with G7 partners, about €45B ($50B) by the end of the year in support of Ukraine’s current and future needs.

“According to EU legislation, Russia’s assets must remain immobilized until Russia ends its aggressive war against Ukraine and compensates it for the damages caused by this war,” the statement said.

However, Hungarian Prime Minister Viktor Orbán once again blocked the EU’s attempts to change the Russian sanctions regime, a necessary step to attract significant US contribution to a $50B Ukrainian loan. At the EU summit in Brussels, Orbán refused to budge, keeping his promise to delay a decision until after the US election.

Orbán is a vocal supporter of Donald Trump, who is critical of the financial aid that has been given to Ukraine.