Hungary's Viktor Orbán Defeat Could Unlock €90bn Ukraine Loan, EU Says
Viktor Orbán lost Hungary's election on April 12, removing Ukraine's biggest opponent in the European Union. The EU now says it can move forward with a €90 billion ($105 billion) loan for Ukraine that Orbán had blocked.
Viktor Orbán's defeat in Hungary's April 12 election has opened the door for Ukraine to receive €90 billion ($105 billion) in desperately needed EU loans. Marta Kos, the EU's expansion chief, said Tuesday that Hungary's government change could give Ukraine a "new push" to join the European Union.
Orbán had been Ukraine's harshest critic within the EU, consistently blocking aid packages and sanctions against Russia. His opposition had stalled both the massive loan package and the EU's 20th round of Russia sanctions.
Ukraine welcomed Orbán's defeat with relief, as the country urgently needs the funds to continue its war against Russia. The new Hungarian leadership has signaled it would take a different approach to Ukraine support.
Meanwhile, Ukrainian President Volodymyr Zelenskyy expressed concern that the US conflict with Iran means America "has no time for Ukraine," highlighting Ukraine's need for European support as the war enters its 1,512th day.
This massive loan could help Ukraine keep fighting Russia and rebuild its economy. It also shows how one country's politics can affect entire wars and international aid efforts.
The EU will work to quickly approve the €90bn loan and new Russia sanctions now that Hungary's opposition is gone.
Was this article helpful?
0 people found this helpful