European Union officials are exploring a plan to bypass Hungary’s long-standing veto on military assistance for Ukraine, which has resulted in a backlog of €6.6 billion, according to sources speaking on condition of anonymity to Euronews.
The proposed reform of the European Peace Facility (EPF) would make financial contributions voluntary rather than mandatory, as they are currently. This change is expected to be acceptable to Budapest, as it would relieve Hungary run by a pro-Russian government from contributing to the common fund and supporting Ukraine’s resistance against Russian invasion.
A high-ranking EU official stated,
“The idea behind this proposal is that no one can block. This tranche of the EPF, which amounts to €6.6 billion, has been blocked for a year and a half. It’s a lot of time, a lot of money, and it’s undermining our support to Ukraine.”
The plan is still in its early stages and would require unanimous support from all 27 EU member states. It remains unclear how much of the €6.6 billion would be released if Hungary’s contribution is removed.
The Hungarian veto dates back to 11 May 2023, when Ukraine’s anti-corruption agency blacklisted Hungary’s OTP Bank as an “international sponsor of war.” Although OTP Bank was eventually removed from the list, Hungary maintained its veto, demanding “unconditional” guarantees against future incidents.
Related:
You could close this page. Or you could join our community and help us produce more materials like this.
We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia’s war against Ukraine and Ukraine’s struggle to build a democratic society.
A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support.
Become a Patron!
Source link : https://euromaidanpress.com/2024/10/11/eu-proposes-voluntary-contributions-to-bypass-hungarys-veto-on-ukraine-aid/
Author :
Publish date : 2024-10-11 19:04:00
Copyright for syndicated content belongs to the linked Source.