If Hungary blocks a 50 billion euro aid package for Ukraine: Brussels prepares four contingency options
Kyiv • UNN
The EU is preparing contingency plans in case Hungary blocks €50 billion in aid to Ukraine, including funding from individual member states and the use of confiscated assets. Deputy Prime Minister Stefanishyna emphasizes the need for coherence and a reduction in the annual need for funds.
Deputy Prime Minister for European Integration Olha Stefanishyna, who is on a visit to Brussels, told in an exclusive interview with Radio Liberty about four contingency options that Brussels is preparing in case Hungary blocks the EU's decision to provide 50 billion euros in aid to Ukraine for 2024-2027, UNN reports.
According to Olha Stefanishyna, first of all, Brussels still hopes that it will be possible to approve a joint decision from all member states on 50 billion euros. "This would be an ideal scenario in terms of transparency, consistency and the ability to mobilize these funds. I think that all member states understand this, including those who are quite skeptical," the deputy prime minister said.
Another possible option is to go for a solution without Hungary, involving only 26 member states.
"There are at least four different scenarios on the table, ranging from when member states will individually mobilize funds, and part of the work is related to the use of proceeds from confiscated assets. Perhaps, traditional macro-financial assistance programs," explained Olga Stefanishyna.
The European Union has allocated €18 billion in macro-financial assistance to Ukraine for 2023, while the decision to allocate €50 billion for four years will provide for a slightly smaller annual amount. According to Olha Stefanishyna, these funds will be distributed taking into account Ukraine's greater needs now than in the future.
"It is assumed that the implementation of this project will be based on an appropriate plan that will lead to economic growth, an increase in GDP and, let's say, the economic recovery of Ukraine even in the face of war. Therefore, it is clear that the annual need for financial assistance based on this plan should decrease globally," said Olga Stefanishyna.
As a reminder
Hungary systematically blocks any positive decisions on Ukraine in the EU. On Sunday in Buenos Aires, President of Ukraine Volodymyr Zelenskyy managed to talk to Hungarian Prime Minister Viktor Orban, having met him in the guest box at the inauguration of the Argentine president. Volodymyr Zelenskyy called the conversation "as frank as possible," but neither the Ukrainian nor the Hungarian side provided specific details about the subject of the conversation.