Costa urges Orbán to approve €90 billion EU loan for Ukraine - Reuters
Photo: Viktor Orbán, Prime Minister of Hungary (Getty Images)
European Council President António Costa has called on Hungarian Prime Minister Viktor Orbán to comply with the collective decision regarding the loan for Ukraine, according to Reuters.
Read also: Hungary issues tough ultimatum to Ukraine over EU loan
As Reuters reports, António Costa, in his letter, reminded Orbán that the loan was officially approved by the leaders of all EU countries at the December summit, and this decision is binding.
"When leaders reach a consensus, they are bound by their decision. Any breach of this commitment constitutes a violation of the principle of sincere cooperation," emphasized the European Council President.
He also stressed that no member state has the right to undermine trust in the collective decisions of the European Council by using a veto after an agreement has already been reached.
Orbán blocks loan for Ukraine
On February 20, the Financial Times reported that Hungary blocked the allocation of an EU loan of €90 billion to Ukraine, opposing the use of funds through joint debt issuance backed by the EU budget.
Such a decision requires unanimous approval from all 27 member states, and Budapest’s stance effectively halted the process.
This loan is critically important for Kyiv, as Ukraine could face the threat of a financial collapse and a budget deficit as early as the second quarter of the year.
Later, Hungarian Foreign Minister Péter Szijjártó stated that his country would continue to block the loan until Ukraine restores the transit of Russian oil via the Druzhba pipeline.
