“Orban raises the stakes: Hungary refused to issue Eurobonds to help UkraineHungary has officially refused to issue Eurobonds to support Ukraine. This complicates the search for alternative sources of
financing for Kyiv if the EU cannot use frozen Russian assets.
”, — write: unn.ua
DetailsIt is noted that the European Commission wants the 27 EU member states to agree at a summit later this month to support Kyiv’s ailing economy with a loan based on frozen Russian central bank reserves. Belgium is strongly resisting, as it holds the lion’s share of these funds and fears it will face liability if the Kremlin sues.
Eurobonds would provide an alternative funding stream for Ukraine, but Budapest rejected the idea of issuing joint debt backed by the EU’s seven-year budget
It is indicated that Hungary’s refusal came hours before a dinner between German Chancellor Friedrich Merz and Belgian Prime Minister Bart De Wever in Brussels to discuss the loan.
On Wednesday, the European Commission proposed Eurobonds as one of two options, along with an asset-backed Russian loan, to ensure that Ukraine’s war budget does not run out by next April. However, raising debt through the EU budget to support Ukraine requires a unanimous vote. Hungary’s refusal now raises the stakes for what is expected to be intense negotiations on the loan before EU leaders gather in Brussels on December 18,” the article says.
Britain is ready to transfer £8 billion of frozen Russian assets to Ukraine – The Times05.12.25, 07:28 • 3878 views