Hungary blocked a €90 billion loan for Ukraine from the EU

This was reported to a European Truth correspondent in Brussels by informed sources in the EU who wished to remain anonymous.

Hungary refused to vote for amendments to the EU's long-term financial framework for 2021-2027, thereby blocking the process of providing Ukraine with €90 billion from the EU.

In order to provide Ukraine with a €90 billion loan for 2026-2027, three EU legislative acts (regulations) must be approved: on the implementation of enhanced cooperation on the establishment of a support loan for Ukraine for 2026 and 2027; on amendments to the Ukraine Facility and on amendments to the multiannual financial framework for 2021-2027.

All three have already been approved by the European Parliament and are in the final stage of approval by the EU Council.

It was planned that the documents would be adopted by the EU Council and signed by the European Parliament on 24 February, marking the anniversary of russia's full-scale invasion of Ukraine.

The first two documents can be approved by a qualified majority of EU member states, but the third – amendments to the EU's long-term budget – requires unanimous approval.

It was the adoption of the budget amendments that Hungary blocked on Friday, 20 February.

The other two documents have been approved by the Committee of Permanent Representatives (Coreper) and are ready for finalisation and signing on Tuesday, 24 February.

Hungary had previously announced that it would block the allocation of a €90 billion loan to Ukraine from the EU until Russian oil supplies through the Druzhba pipeline were restored.

This was stated by Hungarian Foreign Minister Péter Szijjártó, according to European Truth.

Szijjártó said that Ukraine is blackmailing Hungary by ‘stopping oil transit in coordination with Brussels and the Hungarian opposition in order to create supply disruptions in Hungary and raise fuel prices before the elections.’

‘We are blocking the EU's €90 billion loan to Ukraine until oil transit to Hungary via the Druzhba pipeline is resumed,’ the Hungarian minister announced.

He claims that by blocking oil transit to Hungary via the Druzhba pipeline, Ukraine is violating the Association Agreement between the EU and Ukraine. ‘We will not give in to this blackmail,’ Szijjártó said.

Source: Ukrainska Pravda, European Pravda