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EU expects Orban to lift veto on €50 billion aid to Ukraine

EU expects Orban to lift veto on €50 billion aid to Ukraine Photo: Hungarian Prime Minister Viktor Orban (Getty Images)
Author: Liliana Oleniak

Hungarian Prime Minister Viktor Orban will lift his veto on providing 50 billion euros in aid to Ukraine. The EU has already received a "positive signal" on this issue, according to Finnish Foreign Minister Elina Valtonen.

"I am very confident that Hungary will give up its blockade. Foreign Minister Szijjarto has given us a positive signal and I very much hope that we will finally be able to approve the aid for Ukraine," she states.

"If not, we will find another solution. At the same time, we must invest more in our own security," says Valtonen.

According to the Minister, Europe should develop a reliable strategy for its own defense and deterrence.

"We need to strengthen our own defense industry and both small and large defense companies must have the opportunity to make large investments now. Russia only understands strength. We need a credible strategy of deterrence, both at the European level and at the NATO level. We are nowhere near that point. We need to do much, much more. Regardless of the outcome of the U.S. elections.," the Finnish Foreign Minister states.

50 billion for Ukraine from EU

Yesterday it became known that Slovakia would not block the allocation of 50 billion euros to Ukraine from the EU. This agreement, among others, was reached by Prime Minister Denys Shmyhal and his Slovak counterpart Robert Fico following a meeting in Uzhhorod.

As for Hungary's position, in mid-December 2023, Orban stated that Budapest would not support a new EU aid package for Ukraine until the bloc disburses all funds frozen for Hungary. Ukraine's accession may also be vetoed.

In June 2023, the European Commission proposed to create a special mechanism for Ukraine that would provide grants and loans of up to €50 billion for the period up to 2027. It is intended to replace the current EU support to Ukraine through the Macro-Financial Assistance. The program expires at the end of 2023.