Hungary has officially blocked the European Union’s decision to issue bonds, which could have served as an alternative source of financial support for Ukraine.
As reported by Hvylya, citing Politico, Viktor Orbán's government rejected the option of joint debt that would be covered by the EU's seven-year budget and channeled towards aid for Ukraine.
"This deprives the EU of a potential 'Plan B' should they fail to find a way to use frozen Russian state assets to finance a €165 billion loan to Kyiv," the article states.
The publication emphasizes that the only remaining option is a loan secured by frozen Russian assets.
Consequently, at the upcoming European Union summit on December 18, member states will be forced to increase pressure on Belgium to convince it to agree to the implementation of this plan.
Notably, the EU's proposed reparations loan involves allocating €115 billion to Ukraine's defense industry and an additional €50 billion to cover the state's budgetary needs over a five-year period.
We previously reported that Orbán complained to Putin in Moscow that Ukraine was "making life difficult" for Hungary.