Hungary blocked legislation that would have allowed Ukraine to receive 2 billion euros (converted into about 768 billion Hungarian forints) from the EU for armaments by transferring to them profits generated from Russian assets frozen by the bloc. Financial Times.
Five European Union officials, who requested to remain anonymous, told the newspaper
At a meeting of EU ambassadors on May 22, the Hungarian ambassador opposed the move.
The newspaper reported: After a long discussion, European Union member states agreed a few days ago that profits from frozen Russian assets amounting to about 190 billion euros and kept in the custody of Belgian Euroclear should be used to purchase weapons for Ukraine. The Financial Times now wrote about €2 billion with associated profits, whereas in previous reports it was €2.5-3 billion).
However, at Wednesday's meeting, the Hungarian ambassador objected to individual payments being made at an accelerated pace and without the need for all 27 countries to approve them individually.
In other areas, the government is also hindering support for Ukraine
A source from the Financial Times also pointed out in this regard
The Hungarian government is currently blocking any steps in the Union that would help with military support for Ukraine.
This source also added that the Hungarian position in this regard is not expected to change until the European Parliament elections.
The Financial Times also reported that at the beginning of the year, the Hungarian government refrained from vetoing €50 billion in EU aid to Ukraine. Meanwhile, according to the newspaper, the government continues to obstruct payments by not supporting the adoption of necessary legislation. The newspaper's sources said that government representatives are not opposed to supporting Ukraine in principle, but point to the fact that they have concerns about making payments automatic.
Financial Times sources added: EU diplomats are confident that the situation will be resolved by July, when the first payments become effective. The newspaper wrote that it also asked representatives of the Hungarian government about all this, but they did not receive an answer.
In addition to the cases mentioned above, there may be a third area where the Hungarian government could bypass Ukraine's allies: G7 finance ministers are also discussing a draft, according to which future profits from confiscated Russian assets would be used as collateral for another US loan to Ukraine (this issue will also be discussed At the G7 summit in June).
According to the Financial Times, many European financial leaders are skeptical of this plan, and the G7 decision can only be taken if all 27 EU countries support using future profits in this way – that is, the government would also have the right to do so. An opportunity to do so.
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