Hungary blocks 90 billion euros for Ukraine
The Hungarian government has blocked the allocation of a 90 billion euro EU loan to Ukraine. This decision, made ahead of the April elections in Hungary, comes against the backdrop of the European Commission blocking the allocation of a 20 billion euro subsidy to the Hungarian budget. The loan program for Ukraine is tied to the EU budget starting in the third quarter of 2026 and cooperation with the IMF, which involves 8.5 billion dollars. The delay threatens Ukraine's credit rating and complicates external borrowing.
Possible consequences and EU actions
To overcome Hungary's veto, the EU is considering two options:
- to conclude an intergovernmental agreement with all countries except Hungary;
- to activate Article Seven of the statute to deprive Hungary of its veto rights.
At the same time, Hungary and Slovakia decided to suspend diesel supplies to Ukraine from February 23. Slovakia also threatened to stop exporting electricity, stating:
“If you do not restore the transit through the Druzhba pipeline, we will turn off your electricity” - source unknown.
The President of Ukraine Volodymyr Zelensky, commenting on the overall situation, noted that it 'remains complicated.'