EU leaders seek legal route around Orbán to release Russian assets
Photo: Hungarian Prime Minister Viktor Orbán (Getty Images)
EU leaders at the Copenhagen summit will discuss ways to bypass Hungary in the decision regarding frozen Russian assets, as Budapest is blocking their confiscation, according to Politico.
The media outlet recalls how the European Commission decided to handle Russian assets – by providing Ukraine with a so-called reparations loan, as Kyiv is expected to face a budget deficit of approximately $23 billion next year.
European Commission President Ursula von der Leyen announced that the reparations loan to Ukraine would amount to €140 billion. The money will come from Russian assets frozen by the EU since the beginning of Russia’s full-scale war against Ukraine.
However, Hungarian Prime Minister Viktor Orbán is blocking the EU plan to confiscate assets. The European Commission believes it has found a legal way to bypass Hungary in the decision-making process.
Leaders will discuss the plan on Wednesday, and then hope to adopt an official decision at the second summit at the end of October.
"The goal [in Copenhagen] is to gather sufficient support from other countries to isolate Orbán," a European Union diplomat told Politico.
Hungary blocks EU decision
Previously, Hungary tried to challenge in court the EU decision to use revenues from frozen Russian assets to fund aid to Ukraine.
It was also reported that the European Commission proposed approving new sanctions against Russia by a simple majority of EU member states, bypassing Hungary.
