Wednesday, 17 July 2024
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Hungary refuses to provide Ukraine with $54 billion in EU funding

  • The PM of Hungary vetoed 50 billion euros in help from the EU for Ukraine.
  • The majority of EU leaders wanted this week’s summit to deliver a strong message of unity with Ukraine.
  • The executive branch of the EU decided on Wednesday to unlock 10 billion euros of the funds.

Hours after the group decided to formally begin membership negotiations with Kyiv, Prime Minister of Hungary Viktor Orban vetoed 50 billion euros ($54 billion) in help from the European Union for Ukraine.

After Orban declined to support the additional assistance for the Ukrainian government as it fights to drive out Russian forces from its territory, the other leaders of the EU decided to take a closer look at the matter the following month.

EU funding

President of Ukraine Volodymyr Zelenskyy suffered a setback as a result of the ruling, as he was unable to convince Republican lawmakers in the US to grant an extra $61 billion for Ukraine.

Amid thoughts that allies’ support for Kyiv was flagging, the majority of EU leaders wanted this week’s summit to deliver a strong message of unity with Ukraine. The executive branch of the EU, the European Commission, decided on Wednesday to unlock 10 billion euros, or $11 billion, of the funds.

Orban denied any connection between his intransigence over Hungary and the additional 21 billion euros ($23 billion) that remain out of his reach. Putin said his soldiers were making progress, although the battle in Ukraine has stalled out at the front lines in the east of the nation.

After beginning its full-scale invasion of Ukraine in February 2022, the nation presently possesses some 617,000 soldiers there. Jens Stoltenberg, the secretary-general of NATO, issued a warning, saying that to defend the rest of Europe, the West must continue to help Ukraine.

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