Hungary to drop opposition to EU’s new weapon fund for Ukraine — Bloomberg

Hungary to drop opposition to EU’s new weapon fund for Ukraine — Bloomberg
# 25 January 2024 17:43 (UTC +04:00)

Hungary will drop its objections to the creation of a new 5 bln euros fund for assistance to Ukraine, Bloomberg reported citing sources, APA reports.

"Budapest said it won’t stand in the way of a consensus at a meeting of European Union ambassadors on Wednesday, where a deal on a larger 50 billion euros financial aid package remains stuck," the agency wrote citing sources. Budapest will approve funding for Kyiv as soon as diplomats "sort out technical issues." Reaching an agreement on the creation of such a fund will "revamp a vehicle that aims to steady supply of weapons" to Kyiv.

At the EU summit in Brussels on December 14-15, 2023, Hungarian Prime Minister Viktor Orban blocked amendments to the EU budget for 2024-2027, which provided for the allocation of 50 billion euros to Ukraine. Budapest proposed to provide financial assistance to Kyiv on an annual basis with strict control over the expenditure of funds.

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