Hungary’s threat to veto the loan presents a significant challenge for Ukraine, with its financial reserves expected to diminish by April. Without new funds, Kyiv will find it difficult to maintain its war efforts, putting it at a disadvantage in peace negotiations with Russia.
Trouble emerged earlier on Friday when Hungary’s ambassador to the EU insisted that its national assembly receive the customary eight weeks to review EU legislation during a meeting of envoys in Brussels, according to three EU diplomats.
EU ambassadors were set to finalize approval for the loan ahead of Tuesday, marking four years since Russia’s invasion of Ukraine.
In a renewed clash with Kyiv, Orbán accuses the war-affected nation of stopping Russian gas to Hungary for political motives. Ukraine refutes these allegations, citing Russian attacks that have damaged its energy infrastructure.
The European Commission held an emergency meeting earlier this week to address the dispute over the Druzhba pipeline after Hungary and Slovakia responded by stopping diesel supplies to Ukraine.
EU leaders, including Orbán, agreed to the €90 billion loan in December after prolonged negotiations. In a significant compromise, the EU excluded Hungary, Slovakia, and Czechia — who oppose further aid to Kyiv — from repaying the loan’s borrowing costs.
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