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EU creates loophole to circumvent Hungary's veto on support for Ukraine – the FT

Monday, 24 June 2024, 09:31
EU creates loophole to circumvent Hungary's veto on support for Ukraine – the FT
Josep Borrell. Stock photo: Getty Images

The European Union has developed a legal workaround to bypass Hungary's veto on the purchase of weapons for Ukraine using profits obtained from frozen Russian assets this year, which could also clear the path for the G7 to disburse US$50 billion to Kyiv. 

Source: Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, in an interview with Financial Times, as reported by European Pravda

Details: Borrell said since Hungary abstained from the previous agreement to postpone revenues from frozen Russian assets, it "should not be part of the decision to use this money". 


He added that the workaround is "sophisticated as every legal decision, but it flies".

EU foreign ministers will discuss the loophole in Luxembourg on Monday. 

He also mentioned that Brussels offered Hungary a deal similar to the one NATO concluded with Prime Minister Viktor Orbán last week: Budapest rejected support measures for Ukraine in exchange for not vetoing other alliance members’ actions, but it was rejected. 


"We have offered Hungary: your money will not be used to support Ukraine in any means. Not just lethal, but on anything. Take your money. Put your money out of the box. I don’t want to use your money," Borrell said, adding that Hungary answered "no".

He added that Budapest's position "has something to do with the strong links that they have with Russia". 

The Financial Times noted that bypassing Hungary's veto could also remove the obstacle that could complicate the G7's efforts to send a US$50 billion credit paid from future revenues to Kyiv by December. Such a decision was made by leaders at the summit in Italy. 

Meanwhile, according to officials, Hungary can still block EU sanctions, under which Russian assets are frozen, a decision that 27 EU countries must unanimously renew every six months.

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