Hungary's Orban names conditions for unblocking EUR 50B in EU aid to Ukraine

Hungarian Prime Minister Viktor Orban has said that he is ready to support the allocation of EUR 50 billion in EU aid to Ukraine if Budapest receives all the funds frozen by the European Commission.

That's according to Bloomberg, Ukrinform reports.

"This [discussion on the disbursement of financial assistance to Ukraine] is a great opportunity for Hungary to make clear that it must get all of what it's due," Orban said in his weekly radio interview from Brussels.

He added that when EU leaders meet again early next year to consider a EUR 50 billion package for Ukraine, Hungary will make sure it gets all of its own funds first.

The European Commission this week agreed to release a third of about EUR 30 billion ($33 billion) that was frozen due to rule-of-law and graft concerns after Hungary enacted changes related to the judiciary, strengthening the courts' independence.

At the same time, Peter Virovacz, an economist at ING Bank in Budapest, noted that it would take about two months for the European Commission's aid to start turning into actual payments for the Hungarian government.

While Hungary abstained from a vote on EU membership talks with Ukraine, Orban still opposes that decision and stands ready to veto Ukraine's accession at a later stage, the prime minister said.

Earlier reports said that at a meeting of the European Council, Orban vetoed the allocation of EUR 50 billion from the EU budget to help Ukraine.

Photo: Xinhua News Agency/PA Images