EU transfers frozen Russian assets to Ukraine, Hungary cries foul
The decision to transfer profits from frozen Russian assets to Ukraine against Hungary's position violates and disregards European principles, stated Peter Szijjarto on Monday. "This is a clear red line," added the Hungarian Minister of Foreign Affairs.
4:39 PM EDT, June 24, 2024
"This is a clear red line," said Szijjarto, who was in Luxembourg, in a video posted on Facebook. "Never before has there been such a blatant violation and disregard of common European principles," added the politician.
The EU has agreed to allocate profits generated by frozen Russian money for the purchase of weapons for Ukraine. They will be transferred to Kyiv through a specially created Ukraine Assistance Fund (FPU).
Historic decision. Hungary's veto bypassed
Fearing Hungary's veto, which has been blocking nearly 7 billion euros in support from the European Peace Facility (EPF) for almost a year, a particular legal procedure was used in the case of the FPU. Hungary cannot decide to transfer profits from frozen assets because it abstained from voting on establishing the FPU itself.
Bypassing Budapest's opposition is "sophisticated, like every legal decision, but effective," European Union foreign policy chief Josep Borrell told the British daily Financial Times earlier.
Szijjarto announced on Monday that "a team of lawyers is looking for ways to challenge the EU countries' decision."
The first tranche of support under the FPU will range from 1.2 billion to 1.4 billion euros.
"This is unacceptable for us"
The Hungarian Foreign Minister also conveyed that Borrell proposed training Ukrainian soldiers on Ukrainian territory. "This is unacceptable for us, and we protest against it by all available means," stressed the head of Hungarian diplomacy, adding, "It would create a serious risk of further escalation of the war."
He emphasized that Budapest will block nearly 7 billion euros from the EPF "until the Ukrainian authorities stop discriminating against Hungarian firms."
Orban's government, which has long criticized the West's provision of military aid to Kyiv, had blocked EU financial aid for Ukraine amounting to 50 billion euros until early February. Budapest is also opposed to Ukraine's integration with NATO and the EU, objecting—without formally blocking—the start of accession negotiations between Brussels and Kyiv.
