Hungarian Prime Minister Viktor Orban is encountering increasing pressure from European Union leaders following his last-minute decision to block a €90 billion loan intended for Ukraine. This move has provoked frustration among other EU leaders, particularly as Orban had previously agreed to the financing arrangement last December with the understanding that Hungary would not be obligated to participate.
Hungary, Slovakia, and the Czech Republic had earlier committed to not obstructing the decision made by 24 EU member states regarding the loan. EU diplomats have emphasized that there are no alternatives to the agreement Hungary had already accepted.
“An agreement is an agreement. There is no Plan B, Plan C, or Plan D. This €90 billion loan must happen,” stated a senior EU diplomat.
Another high-ranking diplomat noted that the EU cannot discuss alternative plans, indicating that criticism of the Hungarian government is becoming increasingly vocal. An EU official revealed that Charles Michel, who will chair the upcoming EU summit, had a lengthy phone conversation with Orban on Tuesday morning.
“The message was very clear: ‘I expect you to honor the commitments you made at the European Council, and that this decision regarding the €90 billion loan will be executed,'” the official relayed Michel’s words.
While some diplomats expressed skepticism about Orban’s potential retreat before the elections, a leaked draft of the communiqué following the summit indicates that EU leaders are looking forward to the “first tranche by the beginning of April.”
Prior reports indicated that Ukraine could still receive the €90 billion reparative loan despite Orban’s attempts to block it. European institutions are exploring funding options that do not require unanimous voting from all member states. Additionally, the EU has clarified that Hungary’s veto will not impede the progress on mechanisms for disbursing funds, as technical preparations are underway to utilize profits from frozen Russian assets as a basis for this loan.
Hungarian Prime Minister Viktor Orban's recent decision to block a €90 billion loan for Ukraine has drawn sharp criticism from EU leaders. As pressure mounts, discussions continue on alternative funding mechanisms that do not rely on unanimous approval.