Hungary says it will oppose creation of €20 billion fund to support Ukrainian military

This was reported by Politico.

A plan to allocate at least €5 billion a year over the next four years to cover the cost of EU countries buying and transferring weapons to Ukraine and training Ukrainian forces was on the agenda last Thursday when foreign ministers met in Brussels. However, Hungary has objected to the fund until Ukraine removes the Hungarian bank OTP from its list of war sponsors.

Hungarian Foreign Minister Péter Szijjártó said that his country would not allocate any more money to the European Peace Fund, which Brussels uses to finance arms sales to Ukraine.

"We cannot negotiate new financial commitments to the EPF before the OTP is resolved,"  Szijjártó said.

• On June 26, the European Union Foreign Affairs Council approved additional military aid to Ukraine worth €3.5 billion.

• On July 20, it became known that the European Union plans to allocate €5 billion a year for Ukraine's defense for the next four years.