Hungary Blocks Decision on Russian Asset Revenues at EU Summit

World |Author: Diana Kavardzhikova | March 21, 2024, Thursday // 10:43|  views


A proposal aiming to allocate revenues from frozen Russian assets to Ukraine is facing obstacles at the European Council meeting commencing today, reveals a high-ranking diplomat speaking to Deutsche Welle.

The setback stems from Hungary's objection to utilizing these funds for purchasing weapons for the Ukrainian armed forces.

Sources indicate that while most EU member states support using the confiscated funds to procure weapons and ammunition for Ukraine's defense, Hungary opposes this approach. The diplomat emphasizes the urgent need for financial support to bolster Ukraine's military capabilities amid escalating tensions.

The European Commission suggests allocating 90% of the proceeds from frozen Russian assets towards acquiring weapons. However, Hungary's dissent lies in its preference for allocating the funds elsewhere, excluding weaponry.

Additionally, discussions regarding EU enlargement appear to face uncertainty. Adoption of the negotiating framework for Ukraine and Moldova, crucial steps towards initiating intergovernmental conferences, may not materialize due to lack of unanimous support from members. Certain countries oppose commencing negotiations during Belgium's presidency of the Council of the EU.

With Belgium transitioning its presidency to Hungary on July 1, attention turns to Hungary's stance. Hungarian Prime Minister Viktor Orbán previously hinted at potential blockages to future negotiations, albeit approving a multibillion-dollar financial package for Ukraine two months ago. The source underscores the importance for Hungary to resolve the negotiation issue before assuming the presidency.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Tags: Hungary, Ukraine, block, asset


» Related Articles: