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Hungary Halts USD106B EU Loan to Ukraine Over Druzhba Oil Dispute
(MENAFN) Hungarian Foreign Minister Peter Szijjarto announced Friday that Budapest is holding hostage a €90 billion ($106 billion) EU loan package earmarked for Ukraine, tying its release directly to the restoration of oil flows through the Druzhba pipeline.
"We are blocking the €90 billion EU loan for Ukraine until oil transit to Hungary via the Druzhba pipeline resumes," Szijjarto declared on X, the US-based social media platform.
The minister leveled serious accusations at Kyiv, alleging that Ukraine deliberately suspended oil transit as part of a coordinated pressure campaign involving Brussels and Hungary's domestic opposition — timed, he claimed, to spike fuel costs ahead of upcoming elections.
Szijjarto further warned that Hungary would not yield to what he characterized as economic coercion. "By blocking oil transit to Hungary through the Druzhba pipeline, Ukraine violates the EU-Ukraine Association Agreement, breaching its commitments to the European Union. We will not give in to this blackmail," he added.
The standoff marks a sharp escalation in tensions between Budapest and Kyiv, threatening to complicate the European Parliament's broader financial support strategy for war-torn Ukraine at a critical moment.
"We are blocking the €90 billion EU loan for Ukraine until oil transit to Hungary via the Druzhba pipeline resumes," Szijjarto declared on X, the US-based social media platform.
The minister leveled serious accusations at Kyiv, alleging that Ukraine deliberately suspended oil transit as part of a coordinated pressure campaign involving Brussels and Hungary's domestic opposition — timed, he claimed, to spike fuel costs ahead of upcoming elections.
Szijjarto further warned that Hungary would not yield to what he characterized as economic coercion. "By blocking oil transit to Hungary through the Druzhba pipeline, Ukraine violates the EU-Ukraine Association Agreement, breaching its commitments to the European Union. We will not give in to this blackmail," he added.
The standoff marks a sharp escalation in tensions between Budapest and Kyiv, threatening to complicate the European Parliament's broader financial support strategy for war-torn Ukraine at a critical moment.
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