Hungary to block confiscation of Russia’s frozen assets for Ukraine
Pravda Ukraine
The European Commission’s proposal to confiscate income from frozen Russian assets to support Ukraine is unlikely to be approved at the summit of European Union leaders, which will begin on Thursday, March 21, in Brussels.
Source: DW with reference to a high-ranking European diplomat speaking on condition of anonymity
The source said there is a common understanding among most EU member states that confiscated funds should be used for the purchase of weapons and ammunition for Ukraine’s Armed Forces, “Ukraine needs more money for weapons, unfortunately, not for reconstruction. And we strive to do everything to avoid further destruction in Ukraine”.
The European Commission’s proposal states that 90 percent of the income from frozen Russian assets should be used to buy weapons for Ukraine’s Armed Forces. However, the source speaking to DW revealed that Hungary opposed this, stating that this money should be used for anything but weapons for Ukrainians.
As the source noted, another “controversial issue” on the summit agenda will be the discussion on EU enlargement.
EU leaders supported the beginning of negotiations for Ukraine and Moldova’s accession in December 2023. For negotiations to begin, EU member states must approve the negotiating frameworks submitted by the European Commission, which serve as a roadmap for the accession process. They also need to hold a meeting of the intergovernmental conference, a specially created body that will directly conduct the negotiations. Both of these decisions require unanimous support from all 27 EU leaders.
However, odds are these two decisions will not be adopted during the summit. The source stated, “There are member states that oppose the beginning of negotiations with Ukraine and Moldova under the Belgian presidency of the EU.”
Belgium’s presidency of the EU will last until 1 July, after which Hungary is set to take over this role.
Background:
- Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, said on Tuesday that he would propose that the EU should use 90% of the revenues from Russian frozen assets in Europe to purchase weapons for Ukraine through the European Peace Facility.
- Earlier, Bloomberg reported that the EU prepared a legislative proposal, according to which Ukraine will start making a profit from frozen Russian sovereign assets as early as July.
- Polish Foreign Minister Radosław Sikorski said it would be better if Russian money in the EU was used to defend Ukraine rather than to recover it.
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