Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children
The Ministry of Health in Gaza: Gaza's hospitals recorded six deaths due to starvation and malnutrition in the past 24 hours, all of them adults
Informed sources to Al Mayadeen: A new chapter in relations between Iran and the International Atomic Energy Agency will begin within the framework of the new law passed by Parliament
Informed sources to Al Mayadeen: The talks will focus on the political aspect, and the agency's delegation will not be accompanied by any inspector
Informed sources to Al Mayadeen: An IAEA delegation will visit Tehran next week to discuss mechanisms for implementing the parliament's law suspending cooperation with the agency
Palestinian media: Herds of Israeli settlers storm the al-Aqsa Mosque and perform Talmudic rituals in it
Al Mayadeen's correspondent in Gaza: 15 martyrs were transferred to hospitals in the Gaza Strip in the past few hours as the Israeli occupation continues its aggression on the camps of the displaced
Al Mayadeen's correspondent in Gaza: 38 were killed since dawn on Saturday, as the Israeli occupation army targeted aid seekers at distribution sites
Palestinian Red Crescent: One martyr, several injuries among our teams after the occupation bombed the association's headquarters in al-Amal neighborhood, west of Khan Younis.

Hungary blocking EU plan to give Russian funds to Ukraine

  • By Al Mayadeen English
  • Source: Financial Times
  • 25 May 2024 16:43
  • 1 Shares
3 Min Read

Five FT sources acquainted with internal EU ambassadorial negotiations divulged that Hungary's envoy has rejected utilizing Russian money to make accelerated payments to Ukraine.

Listen
  • x
  •   Hungary blocking EU plan to give Russian funds to Ukraine
    Hungarian Prime Minister Viktor Orban leaves after a yearly State of the Nation address in Budapest, Hungary on February 18, 2023. (AP)

Hungary has rejected legislation that would allow the EU to transfer funds from frozen Russian assets to Ukraine, the Financial Times reported.

Bloomberg reported earlier that the EU agreed on a plan on Tuesday to utilize the income from blocked Russian sovereign assets to boost Ukraine's rehabilitation and military spending.

Czech Foreign Minister Jan Lipavsky posted on X that this decision will supply Ukraine with up to €3 billion ($3.3 billion) this year, with the military receiving 90% of the funds.

The idea was adopted by EU affairs ministers in Brussels following months of haggling among member states over concerns about potential legal challenges, Russian reprisal, and the euro's stability.

The assets are projected to earn around €5 billion per year, with Ukraine getting help twice a year.

Five FT sources acquainted with internal EU ambassadorial negotiations divulged that Hungary's envoy rejected utilizing Russian money to make accelerated payments to Ukraine. "For the time being, they are blocking everything connected to the military support for Ukraine," one source stated, adding that the situation would not alter until next month's European Parliament elections, at the earliest.

To appease Hungary, the EU allegedly suggested an agreement under which its portion of the bloc's funding would not be used to purchase arms for Ukraine. According to the FT, this had limited success because Budapest agreed not to block the passage of funds.

Related News

Orban accuses von der Leyen of capitulating to Trump after trade deal

Orban sounds alarm on global war, warns Europe already at risk

Additionally, while Hungary is not opposed to transferring Russian money to Ukraine, it is concerned about automated transfers.

Hungary has consistently criticized the West's response to the war in Ukraine, notably its weaponry transfers to Kiev and deployment of troops. Officials in Budapest have frequently urged for a ceasefire, claiming that EU sanctions against Russia have failed to harm the country's economy and have instead backfired against the EU.

Hungary delayed the EU's €50 billion ($54 billion) aid package to Ukraine for several weeks at the end of last year before backing down under Western pressure.

Hungary 'redefining' being NATO member amid Ukraine aid block: Orban

Speaking to national radio on Friday, Hungarian Prime Minister Viktor Orban confirmed his intention to "redefine" the terms of NATO membership as a result of his opposition to aiding Ukraine. 

"Our lawyers and officers are working [to define] how Hungary can exist as a Nato member without taking part in Nato operations outside Nato territory," Orban said, noting, "There have not been many situations in the history of NATO when a member state would stick to the basic idea of Nato as openly and clearly as Hungary does now, and therefore . . . its position within the military alliance would have to be redefined."

Despite Hungary's growing isolation within the alliance due to its stance on Ukraine, Orban refuses to relent.

"It is as if everyone is already in a different future. They simply refuse to consider these arguments beyond a polite hearing... And war planning is going on."

He added that Hungary previously declared this in advance and that they "do not want to participate in financial or armament support, not even within the framework of NATO. Therefore, our situation is a strange ‘we are there, but we are not’ situation. I don’t know how long this can be maintained."

  • Nato
  • Ukraine
  • Russia
  • European Union
  • Europe
  • Hungary
  • Budapest
  • Moscow
  • Vladimir Putin
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
An explosion seen during an Iranian missile attack on Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

If Iran is attacked again, geography of response may change: IRGC spox

  • Politics
  • 30 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Starved, shot, bombed, 'Israel' finds no fault
Politics

'Israel' closes 88% of war crimes cases without charges: Watchdog

Alex Karp, CEO of the software firm Palantir Technologies, arrives as then Senate Majority Leader Chuck Schumer, convenes a closed-door gathering of leading tech CEOs, Wednesday, Sept. 13, 2023 (AP)
Technology

Notorious Palantir lands record $10bln contract with the US Army

‘March for humanity’: Protesters brave rain for Gaza on Sydney bridge
Politics

‘March for humanity’: Protesters brave rain for Gaza on Sydney bridge

A Syrian Democratic Forces (SDF) fighter stands in guard during a gathering to celebrate Nowruz, Kurdish New Year, in Qamishli, northeastern Syria, Friday March 21, 2025 (AP)
Politics

SDF asserts 'right to retaliate' against strikes near Deir Hafer

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS