Finnish FM confident Hungary will lift veto on EUR 50 billion EU aid for Ukraine

Hungarian Prime Minister Viktor Orbán is expected to lift his veto on EUR 50 billion ($54.3 billion) of financial aid for Ukraine from the European Union, Finnish Foreign Minister Elina Valtonen said in an interview with German news RND on Jan. 25.

“I am very confident that Hungary will abandon its blockade,” Valtonen said.

“Foreign Minister (Peter) Szijjártó gave us a positive signal, and I am very hopeful that we will finally be able to approve the aid for Ukraine.”

Read also: EU promises further funding for Ukraine by March

Even if this doesn’t materialize, the bloc will find an alternative solution. Valtonen emphasized the need for Europe to invest more in its security, develop a reliable defense and deterrence strategy, and strengthen its defense industry. The defense companies should be empowered to make substantial investments now, she said.

Russia understands only strength, Valtonen said, stressing the importance of creating a reliable deterrence strategy at both the European and NATO levels.

“We need to do much, much more,” she said.

“Regardless of the outcome of the elections in the United States.”

Read also: Kyiv presents Budapest with plan to stop Hungarian minority dispute blocking Ukraine's EU bid

Orbán vetoed a new EUR 50 billion ($54.3 billion) aid package for Ukraine, insisting that Budapest receive EUR 21 billion ($22.8 billion) in aid and grants that has been frozen due to the poor situation with human rights and rule of law in the country.

Ukraine would receive EUR 50 billion ($54.3 billion) in aid from the EU despite Hungary’s resistance, the German Foreign Ministry announced at the end of December.

The EU is preparing an alternative plan to provide Ukraine with EUR 20 billion ($21.74 billion) in financial support, bypassing Orbán’s veto, the Financial Times reported.  The proposed mechanism could be used if Orbán’s veto is not overcome at the planned summit on Feb. 1.

Approval of providing Ukraine with $54.3 billion is far off, but bilateral assistance is possible, Hungary stated on Jan. 18.

European Union leaders are prepared to take harsh measures against Hungary if Prime Minister Viktor Orbán continues to block a $54.3 billion aid package for Ukraine, Bloomberg reported on 22 Jan.

Read also: Hungarian FM Szijjarto reportedly receives death threats written in Ukrainian ahead of meeting

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