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FT: Hungary blocked €90 billion EU loan to Ukraine

20 February 2026 22:42 (UTC +04:00)

Hungary has blocked the European Union's €90 billion loan to Ukraine, APA reports citing British newspaper Financial Times (FT).

According to them, Hungary's Permanent Representative to the EU objected to the allocation of funds on February 20. Such a decision requires the unanimous support of all 27 EU member states.

As the publication emphasizes, without the allocation of these funds, Ukraine faces financial collapse as early as the second quarter of this year, especially since Kyiv's €8 billion IMF financing program is also tied to the allocation of funds from the European Union.

The agreement concerns €90 billion in EU funding for Kyiv for 2026-2027, of which €60 billion will go toward weapons and €30 billion for the country's budget. It was agreed upon in December 2025 after the European Commission's failed attempt to expropriate Russian sovereign assets and use them to finance military operations in Ukraine. EU countries are to raise these €90 billion as a loan on financial markets, with all interest payments being made by the EU countries themselves. Kyiv will only have to repay this so-called "loan" if it receives certain "reparations" from Russia—and, according to the EU's wording, "in full," whatever that means.

It should be noted that Hungary, the Czech Republic, and Slovakia, back in December 2025, refused to approve this financing, participate in it, or pay interest on the loan. Therefore, this decision was made by 24, rather than 27, EU countries under the so-called enhanced partnership procedure. The problem is that to formalize a Euroloan to finance Kyiv's needs, the European Commission requires the formal approval of all 27 EU countries.