Hungary blocks EUR 18 billion macro-financial aid to Ukraine

6 December 2022, 04:37 PM
Flag of Hungary (Photo:lmaresz / pixabay)

Flag of Hungary (Photo:lmaresz / pixabay)

Hungarian Finance Minister Mihály Varga spoke out against the adoption by the European Council of amendments for the allocation of EUR 18 billion of macro-financial assistance to Ukraine in 2023, the Interfax-Ukraine news agency reported on Dec. 6.

Hungary is against the amendment to the financial legislation,” he said.

In particular, Budapest opposed the amendment to the Multiannual Financial Framework, which has to be adopted unanimously.

At the same time, ministers of EU member states with a supermajority voted for Macro-Financial Assistance Plus (MFA+) and the amendment to the financial regulations.

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“Unfortunately, we were unable to adopt the package as a whole,” said Czech Finance Minister Zbyněk Stanjura, who was chairing the meeting.

“However, this will not dampen our ambitions to start allocating our aid to Ukraine from early January.”

He asked the Economic and Financial Committee to find an alternative solution that would be supported by all member states.

“We will find a solution to support Ukraine,” Stanjura added.

Earlier, the European Parliament supported the European Commission’s proposal to provide Ukraine with EUR 18 billion of macro-financial assistance in 2023.

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