Hungary blocks $55 Billion EU aid for Ukraine

Written by Henrik Rothen

Dec.15 - 2023 7:48 AM CET

Photo: Wikipedia Commons
Photo: Wikipedia Commons
Hungary blocks $55 Billion EU aid for Ukraine.

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Hungary has played a pivotal role in delaying the approval of a substantial financial aid package intended for Ukraine.

The package, amounting to 50 billion euros (approximately $55 billion), was put on hold following Hungary's decision to withhold its endorsement. This move came in the wake of the EU leaders' decision to begin accession talks with Ukraine, a significant step for Kyiv in garnering support from its allies.

According to Kyiv Independent, Hungarian Prime Minister Viktor Orban, known for his previous actions in blocking certain EU sanctions against Russia and seen as an ally of Russian President Vladimir Putin within the EU, announced the veto on social media after discussions in Brussels.

He suggested that the aid should only be considered after the Europe-wide elections scheduled for the upcoming summer.

The decision to postpone the aid was confirmed during a news conference held by Charles Michel, the President of the European Council, at 3 a.m. local time on December 15.

Michel stated that while 26 EU member countries were in favor of providing financial assistance to Ukraine, unanimity was needed for such a decision, and Hungary's lack of approval prevented it. He indicated that discussions on the aid for Ukraine would resume in early January.

This development marks a significant moment in the EU's ongoing efforts to support Ukraine, particularly in the context of the country's recent progress towards EU accession. The European Council had agreed to open accession talks with Ukraine and Moldova, as announced by Charles Michel on December 14.