Borrell comments on Hungarian veto on EU’s Ukraine weapons-for-money plan
(MENAFN) European Union foreign policy chief Josep Borrell has voiced strong criticism of Hungary's continued veto on the allocation of approximately EUR6 billion (USD6.6 billion) intended for Ukrainian military aid under the European Peace Facility (EPF). This funding, initially earmarked for various purposes when the EPF was established in 2021, has become a key element in the European Union’s support for Ukraine's defense against Russian aggression.
Despite the strategic importance of these funds, Hungary has consistently obstructed their deployment, arguing that the weapons provided have not significantly impacted the conflict and hinder peace negotiations. As a result of Budapest’s stance, European Union member states are unable to receive reimbursements for military equipment they have already supplied to Ukraine.
Borrell expressed his frustration over the deadlock during a press conference following an informal meeting of European Union foreign ministers in Brussels on Thursday. “I cannot accept to have EUR6 billion in my current account,” he said, emphasizing the need for the funds to be distributed to member states as intended. The European Union’s aim is to ensure that this financial support reaches its intended purpose and alleviates the burden on member countries.
Hungary’s objection centers on its belief that supplying more weapons will not resolve the conflict and is counterproductive to peace efforts. The country has opposed both direct and indirect military aid through the European Union budget.
In the meantime, the EU has redirected approximately EUR1.4 billion (USD1.5 billion) from Russian sovereign assets, which were frozen as part of sanctions against Russia, to support Ukraine's domestic arms industry. Borrell defended this decision, asserting that the European Union has the right to utilize these assets as it sees fit. Moscow, however, has condemned the move, labeling it as a form of theft.
The ongoing dispute highlights the complexities within the European Union regarding its approach to supporting Ukraine and dealing with member states that have differing views on the matter. The resolution of the funding stalemate remains critical for the European Union’s continued support for Ukraine in its conflict with Russia.
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