EU may hand over €240 billion to Putin if Hungary blocks sanctions, says Estonia
Photo: Estonia’s Foreign Minister Margus Tsahkna (Getty Images)
Estonia’s Foreign Minister Margus Tsahkna warned that if Hungary blocks the extension of sanctions against Russia, the European Union may be forced to hand over €240 billion in frozen assets to Vladimir Putin, reports Spiegel.
Speaking to one of the outlets in Brussels, Tsahkna called the Russian President Vladimir Putin a “liar” and urged the confiscation of Russia’s frozen assets.
“We have frozen real estate assets in Europe worth more than €240 billion. The Russian central bank's money is predominantly in Belgium,” said Estonia’s top diplomat.
Estonian Foreign Minister explained that the EU must vote every six months to extend sanctions against Russia. Each time, Hungary’s agreement is required. (Tsahkna had earlier referred to Prime Minister Viktor Orbán in this context.) If Hungary blocks the vote this June, the frozen funds could be returned to Russia.
“If they (Hungary -ed.) block this in June, not only will the sanctions expire, but we would have to hand over the €240 billion to Putin. How do the heads of state and government intend to explain to the citizens of Europe that they are handing over money to Putin that he intends to use not only against Ukraine but also against us? So we have to confiscate these assets,” he told the outlet on the sidelines of a NATO Foreign Ministers meeting in Brussels.
Tsahkna also added that there is a legal basis to do so.
“We cannot leave Belgium alone in this. We must also ensure that, even if there is no unanimous decision, the money is not handed over. One cannot 'demand money from our taxpayers to support Ukraine and not from Russia, which is the aggressor,'” he concluded.
Bypassing Hungary's veto
About two weeks ago, Politico reported that European leaders are no longer taking Hungary’s stance on Ukraine into account and are not waiting for its approval. The EU has found a workaround to bypass Hungary’s veto. This was evident in the joint EU statement issued on March 20, which was approved by 26 member states, not all 27.
