Hungary and Slovakia Block €90 Billion EU Loan for Ukraine.

European Council Meeting on March 19

According to Novyny.live: On March 19, 2023, European Union leaders convened for a critical discussion on supporting Ukraine. However, the meeting failed to produce a compromise on a proposed €90 billion loan for the country, as Hungarian Prime Minister Viktor Orbán vetoed the funding. Slovakia joined Hungary in blocking the decision.

After a 90-minute debate among EU heads of state, no clear resolution was reached. Only 25 countries were able to sign the document backing Ukraine. European Council President António Costa condemned Orbán’s actions, stating:

'All leaders must keep their word, and no one is allowed to blackmail the European Council or the institutions of the European Union. What Hungary is doing is absolutely unacceptable.' – António Costa

For his part, Viktor Orbán described the issue as existential for Budapest, underscoring the seriousness of Hungary’s stance on financial aid to Ukraine. The delay in approving the loan highlights the growing divisions among EU member states regarding their approaches to supporting Ukraine amid the current crisis.

As a result, the situation surrounding the loan for Ukraine remains uncertain, and future negotiations could prove decisive for EU-Ukraine relations. The positions taken by Hungary and Slovakia reveal internal rifts within the European Union over how to assist Kyiv, potentially complicating the bloc’s overall strategy in responding to the challenges Ukraine faces. The EU’s next moves will likely shape not only financial support for Ukraine but also the political cohesion among member states.