The G7 states want to provide billions in financial aid for Ukraine – together with the EU. But there is resistance from Budapest. Is there a plan to circumvent Hungary’s veto?
EU Commission President Ursula von der Leyen wants to provide Ukraine with new EU financial aid of up to 35 billion euros, despite resistance from Hungary. She announced this during a visit to Ukrainian President Volodymyr Zelenskyj in Kyiv on Platform X. The money is to be part of the support package planned by the G7 group, which is to total up to 50 billion dollars. Von der Leyen’s proposal still needs the approval of the majority of EU states, among other things.
“Due to the relentless Russian attacks, Ukraine depends on the continued support of the EU,” wrote von der Leyen. The money is another important contribution from the EU to the reconstruction of Ukraine.
The seven major western industrial nations (G7) agreed to provide new financial aid to Kiev at their summit in June. The loan of 50 billion dollars is to be secured by interest income from frozen Russian assets. Representatives of the EU are taking part in G7 meetings.
The financial aid is to be divided between the countries and the EU. However, the USA only wants to participate if the Russian money remains frozen permanently. Hungary is opposed to this. According to EU rules, the freezing of the money requires unanimity between the 27 EU countries every six months.
Von der Leyen’s proposal now provides a path that does not require unanimity. According to this, the EU Commission will grant Ukraine the 35 billion euros in financial aid itself. According to the Commission, this requires the approval of the European Parliament and a qualified majority of EU states. This means that 15 countries representing at least 65 percent of the total EU population must agree.
Orban’s controversial relations with Moscow
The government of Hungarian Prime Minister Viktor Orban maintains good relations with Russia. Since the beginning of the war in Ukraine, Orban has tried to prevent Kyiv’s EU accession negotiations, delayed Western sanctions and blocked financial and military aid. He accused the EU of bringing the conflict to Europe by helping Ukraine. In his opinion, Ukraine cannot defeat Russia.
There was a long discussion within the EU about what to do with the Russian assets. In the spring, it was agreed that 90 percent of the usable interest income from the safekeeping of Russian central bank funds would be channeled into the EU fund for financing military equipment and training. The remaining ten percent would be used for direct financial aid.
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
