Hungary’s Orbán blocks Ukraine funds, aiming to bolster Trump’s 2024 run

Politico reported the information.

Prime Minister Viktor Orbán is crafting a major policy shift aligned with Trump's interests, aiming to allow Trump, if he wins in November, to withdraw from a $50 billion loan package for Ukraine, which was jointly proposed by the U.S., EU, and G7. This would enable Trump to assure his voters he won’t provide further aid to Ukraine.

Hungary has declared it won’t agree to a rule change that would let the U.S. have a significant role in the loan until after the American elections. The loan, intended to support Ukraine against Russia, would be repaid using profits from over $250 billion in Russian assets frozen in Western countries after Russia's 2022 invasion, with Europe holding the majority.

As the publication notes, timing is critical. The U.S. is pushing for the EU to extend its sanctions period from six to 36 months to safeguard these funds. Without the extension, individual EU nations could unfreeze the assets, forcing European taxpayers to foot the bill. While most EU leaders back this extension, Orbán refuses, and under EU law, unanimous approval from all 27 member states is required to change the sanctions rules.

Ukraine is in urgent need of new financial support to endure the winter and Russia’s attacks on its infrastructure, yet Orbán’s stance risks blocking the U.S. from being a significant contributor. Despite this, Europe is likely to proceed with its share of the funding.

"If we don’t work this out [by extending the sanctions duration] it will cost the EU — including Hungary — more money,” said an EU diplomat. Orbán seems unfazed, prioritizing his relationship with Trump over the potential cost to Europe. As another diplomat put it, "This is about helping Trump, not Europe."

If the U.S. and EU jointly commit to the loan, a Trump administration would be locked into funding Ukraine for years. But if Orbán succeeds in excluding the U.S. from the deal, Trump could avoid any obligation.

Orbán’s obstruction reflects his continued alignment with Trump, as seen in their recent meeting at Mar-a-Lago. Orbán has even joked about celebrating if Trump defeats Kamala Harris in the next election. Their shared stance on Ukraine solidifies this bond.

This seemingly technical issue could fracture transatlantic unity on financial support for Ukraine. As Orbán threatens to use his veto, the U.S. is considering a smaller contribution—around $5 billion, equal to the Russian assets it holds—leaving Europe to bear most of the financial burden. Japan has also hinted it may withdraw from the loan if the U.S. does not participate.

This week’s EU summit is pivotal. If Hungary maintains its opposition, the EU is expected to push forward on its own, possibly approving up to €35 billion for Ukraine. Still, many European governments are hesitant to increase their contributions to cover what the U.S. might withhold.

“We are putting pressure, but so far Orbán is not caving,” said one diplomat. “It’s just a game of chicken.”