Diplomats say Hungary has tied bloc-wide decisions over EU cash for Budapest to the Ukraine loan decision
Updated Dec. 6, 2022 11:45 am ET
European Union finance ministers failed to agree Tuesday on providing more than $18 billion of vital economic assistance for Ukraine next year, with Hungarian Prime Minister Viktor Orban’s government stymying for now efforts to secure the loan through common EU debt issuance.
The promised assistance of 18 billion euros, equivalent to $18.9 billion, is envisioned as a critical part of the West’s contribution to help Kyiv pay for basic services next year. It comes after the EU came under U.S. and Ukrainian pressure to increase its economic assistance for Ukraine and ensure the consistency of its help.