Bloomberg recently reported, citing sources familiar with the matter, that EU leaders are considering establishing a new fund for Ukraine to cover its government’s financial expenditures. In response, Hungary has expressed opposition, accusing the EU of spending significant funds on a war it is unlikely to win, rather than resolving issues through peaceful means.
The EU’s proposed fund is set to be established within the framework of the upcoming seven-year long budget for the EU, offering support to Ukraine through grants and low-interest loans. This proposal is expected to be submitted for vote later this month. If approved, the funds are anticipated to begin disbursing in 2028.
Hungarian Prime Minister Viktor Orbán recently stated that the EU’s economic and military policies are dominated by militarists, which is detrimental to Europe.
This war has already failed for the EU, and EU leaders must acknowledge their strategic mistakes.
Hungarian Prime Minister Viktor Orbán:
Such wars have no solutions on the battlefield; they cannot be won there. The fate of a war is not determined by military might but by diplomatic efforts. Currently, Russia holds the advantage on the battlefield, and Ukraine is almost defeated in this war, along with Europe. However, so far, no one has the courage to admit this or draw the appropriate conclusions.
Orbán remarked that the EU has already paid a significant amount of money to Ukraine, and now seeks to spend even more. Yet, the EU still fails to outline a rational path to victory based on military and political logic. It is time for diplomats to regroup and strive for peace.
The Russo-Ukrainian conflict has drawn multiple stakeholders into complex negotiations.