Russian assets not up for grabs – Orban

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The issue will not be discussed at this week’s summit, according to the Hungarian PM

The EU will not discuss plans to seize Russian assets during Thursday’s summit in Brussels, Hungarian Prime Minister Viktor Orban announced on Wednesday, calling it a “victory.”

The bloc has temporarily immobilized roughly $230 billion in Russian central bank assets by invoking Article 122, an emergency treaty clause that allows approval by a qualified majority rather than unanimity despite objections from some member states, including Hungary and Slovakia. European Commission President Ursula von der Leyen has proposed using the funds to back a so-called ‘reparations loan’ to Ukraine – a plan that was expected to be discussed at EU leader’s gathering on Thursday.

Orban wrote on X that “the Brusselians had backed down” and that the Russian assets “will not be on the table” at the summit, calling it a “victory” for his PatriotsEU bloc.

”The Commission now pushes joint loans, but we will not let our families foot the bill for Ukraine’s war. Not on our watch,” he said.

Politico also reported that Belgium’s EU ambassador, Peter Moors, told his peers on Wednesday during closed-door talks that negotiations on the issue were “going backward.”

Orban has previously accused EU officials of “raping European law in broad daylight” by invoking the clause to sidestep Hungary’s potential veto, adding that Budapest would take the matter to the bloc’s top court.

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