EU still has no "Plan B" for allocation of €90bn loan to Ukraine

Despite Ukrainian President Volodymyr Zelenskyy's calls for alternative options to secure the €90 billion European loan for Ukraine blocked by Hungary, the EU still has no such "Plan B".

Source: European Pravda article

Details: While Zelenskyy is insisting on the development of backup financial instruments, multiple European Pravda sources in Brussels say there is currently no alternative to the €90 billion package.

That, however, does not mean the EU has stopped looking for a way out, but there is no official "Plan B" at the moment.

"The sources unanimously insist that none of the options mentioned in these discussions currently appears legally viable," the article says.

If Hungarian Prime Minister Viktor Orbán still refuses to approve the loan after the elections, European officials are discussing various ways of responding, including the possibility of bypassing Hungary's veto.

The EU sees a positive way out of the situation in a specific chain of three events.

"First, elections must take place in Hungary. Then Ukraine must resume [the oil flow through] the Druzhba pipeline. And the third step, after those two, is that Orbán lifts the veto. Only if, after the first two steps, the third does not happen, will serious work on a 'Plan B' begin," the article says.

Background: Politico reported that EU officials are discussing contingency plans in the event that Hungarian Prime Minister Viktor Orbán's party wins the parliamentary elections, with five different options under consideration.

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