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European Commission officially unlocked over €10 bln for Hungary

European Commission officially unlocked over €10 bln for Hungary Prime Minister of Hungary Viktor Orban (photo: Getty Images)

The European Commission has made the decision to unfreeze 10.2 billion euros for Hungary. The EU believes that Budapest's judicial reforms have addressed certain concerns. However, more than 20 billion euros remain blocked, according to the European Commission.

The European Union considers that Hungary has taken measures regarding the fundamental rights of the EU Charter concerning judicial independence.

"This means that part of the funding will no longer be blocked, and Hungary can now claim reimbursement of approximately 10.2 billion euros," the statement says.

It is noted that EU member states must ensure the fulfillment of favorable conditions throughout the funding period of cohesion policy. The European Commission will closely monitor the implementation of measures introduced by Hungary, including audits, active engagement with stakeholders, and monitoring committees.

If at any time the Commission deems that favorable conditions are no longer met, it may decide to block funding again.

In total, due to rule-of-law issues in the country, the blocked funding for Hungary amounts to approximately 21 billion euros.

The position of Hungary regarding Ukraine's accession to the EU

On December 14-15, during the EU leaders' summit, a four-year aid package for Ukraine amounting to 50 billion euros is expected to be approved, along with a decision to initiate accession negotiations. Hungary is opposing such decisions but has expressed willingness to consider certain compromises.

Simultaneously, Budapest declares its readiness to lift the veto on the allocation of 50 billion euros in EU aid to Ukraine if the European Union unfreezes the earmarked 30 billion for Hungary.

For more information on why Hungary is blocking Ukraine's accession to the EU and what Orban wants, you can read the article by RBC-Ukraine.