Hungary has announced it will block a €90 billion emergency loan intended for Ukraine. The decision stems from an accusation that Ukraine is engaging in "blackmail" over a damaged pipeline crucial for Russian oil transit to Hungary.
Foreign Minister Péter Szijjártó stated that Ukraine, Brussels, and opposition forces are coordinating to disrupt energy flows for political gain. He emphasized that the loan blockage will remain until oil transit via the Druzhba pipeline to Hungary is restored. Budapest claims Ukraine is not adequately addressing pipeline repairs, an accusation Ukraine denies.
The €90 billion package requires unanimous approval from member states to amend EU budget rules for borrowing for Ukraine. While other components of the aid package were approved, Hungary's objection has halted the legislative process at a critical juncture. The European Commission is convening an emergency meeting to address the escalating tensions.