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
Factions' statement: The attendees agreed to support and continue implementing the ceasefire agreement measures, including the withdrawal of the occupation and lifting the siege.
Factions' statement: Calling for an end to all forms of torture and violations against prisoners in occupation prisons and the necessity of obligating the occupation to do so.
Statement: The current moment is crucial, making the meeting a true turning point toward national unity in defense of our people and their right to life, dignity, and freedom.
Factions' statement: Call for an urgent meeting of all Palestinian forces and factions to agree on a national strategy.
Factions' statement: Continuing joint work to unify visions and positions to confront the challenges facing the Palestinian cause.
Statement of the factions: Emphasis on the unity of the Palestinian political system and the independent national decision.
Statement: Approval to establish an international committee to oversee the financing and implementation of the reconstruction of the Gaza Strip.
Statement: The committee is responsible for managing life and services in cooperation with Arab brothers and international institutions, based on transparency and accountability.
Resistance factions' statement: Agreement to hand over the administration of the Gaza Strip to a temporary Palestinian committee of independent technocrats.
Al Mayadeen's correspondent: Two people martyred in the Israeli airstrike that targeted a vehicle in Toul.

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

Lavrov, Rubio discuss preparations for Putin-Trump summit

EU nears deal to fund Ukraine with frozen Russian assets

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

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Flags of Iran, Russia, and China (IRNA)
Politics

Russia, China, Iran send joint letter to IAEA on Resolution 2231 end

Rubio says UNRWA to play no role in Gaza aid deliveries
Politics

Rubio says UNRWA to play no role in Gaza aid deliveries

Tents are seen at UN school used as a shelter for displaced Palestinians in Khan Younis, Tuesday, September 30, 2025. (AP Photo/Jehad Alshrafi)
Politics

UN warns of 'lost generation' amid Gaza education crisis

x
Politics

White House pushes to repeal US sanctions on Syria: Report

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