Orban's threats fell flat as the European Union approved a €35 billion aid package for Ukraine.

The European Council has approved a financial aid package for Ukraine. It includes a loan of up to 35 billion euros. This decision is part of the commitments made by the G7 countries regarding the use of frozen Russian assets, and it turned out that threats of a blockade from Hungary did not work.

According to the EU Council, these funds are intended to cover Ukraine's urgent needs arising from Russia's military aggression. The credit commitments agreed upon by the G7 will be partially secured by the assets of the Central Bank of Russia that are frozen in the West.

"The Council has reached an agreement on a financial aid package for Ukraine, including an exceptional macro-financial assistance loan of up to 35 billion euros and a credit cooperation mechanism that will support Ukraine in repaying loans amounting to up to 45 billion euros. The EU and G7 partners," the statement said.

Overall, the EU is ready to allocate 35 billion euros from these assets. Meanwhile, other partners, including the USA, are expected to provide the remaining financial support.

Hungary's Manipulations and Ultimatums

It is worth noting that Hungary previously announced it would postpone its final decision on a 50 billion dollar loan for Ukraine until after the presidential elections in the USA. This was reported by Hungary's Minister of Finance Mihály Varga on October 8.

Furthermore, the European Union is changing its support system for Ukraine. Hungary will not be able to block the agreements made by EU ambassadors regarding the provision of interest from frozen Russian assets to Kyiv and the allocation of support programs from the EU budget.

Additionally, the Informator reported that Hungary publicly opposed Ukraine during the NATO summit on July 9-11. Budapest not only refused to join military support for Ukraine but Hungarian Prime Minister Viktor Orbán stated that Ukraine is not needed in NATO.

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