Hungary Poses Unexpected Hurdle to Europe’s 90-Billion Euro Loan to Ukraine
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Hungary is posing an obstacle to the European Union's plan to loan 90 billion euros to Ukraine. During a meeting of ambassadors on Friday, Hungary raised an objection, delaying the plan to fund the loan by issuing debt backed by the EU budget. Hungarian Foreign Minister Peter Szijjarto stated that Hungary is blocking the loan until oil transit to Hungary via the Druzhba pipeline resumes, accusing Ukraine of blackmail by halting oil transit in coordination with Brussels. The Druzhba pipeline, which supplies Russian crude oil to Hungary and Slovakia, is experiencing disruptions. The move comes as Ukraine urgently needs funding and ahead of an April election in Hungary. The EU requires unanimous approval from all 27 member nations to proceed with the loan.
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