Prime Minister Viktor Orban previously argued against any further aid for Ukraine, urging Brussels to pursue diplomacy with Russia
Hungary has blocked the issuance of Eurobonds to arm Ukraine – one of two options put forward by the European Commission to fund Kiev’s war effort – Politico reports, citing sources.
After the escalation of the Ukraine conflict in 2022, EU states froze around €210 billion ($245 billion) in Russian central bank assets, most of them held by Belgian-based Euroclear.
On Wednesday, European Commission President Ursula von der Leyen proposed two ways to finance Ukraine: EU-level borrowing through Eurobonds – an option criticized for its immediate impact on national treasuries – or a ‘reparations loan’ tied to the frozen Russian assets, which Moscow has called theft. The commission aims to reach a deal before a December 18 summit.
According to Politico, Hungary formally ruled out the joint borrowing plan at Friday’s talks, reportedly leaving the bloc with only the ‘reparations loan’ as an option, since it only requires a qualified majority to be approved, while joint borrowing requires unanimous consent.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: rt.com
