Hungary has consistently opposed unconditional EU support to Kiev, favouring peace talks on further military assistance, and has repeatedly exercised veto rights to block EU financial and military assistance.According to the Commission's plan, only a qualified majority would be needed to extend the restrictions, which would limit Budapest's ability to benefit from veto rights and request concessions, specified as the release of frozen Russian assets.The Agency announced that before the gathering of the EU Permanent Representatives on Friday, the Commission besides presented a plan for granting Ukraine loans amounting to EUR 140 billion, secured by frozen assets of the Russian central bank, to be paid in defence tranches and budget support.German Chancellor Friedrich Merz supported this thought this week, but stated that the funds should only be utilized to acquisition military equipment and paid back only after Russia compensated Kiev for the damage.
At the beginning of this month, the Commission proposed to usage Russian assets to support a reparation debt for Ukraine, which will only be repaid if Kiev receives ‘compensation’ from Moscow.The Reuters Agency has previously estimated the plan at EUR 130 billion, identifying it as ‘repair credit’, which would replace Moscow's assets with zero-year bonds issued by the Commission, guaranteed by all EU countries or a coalition of willing states.The block diplomats are expected to debate these initiatives in the context of the 19th package of sanctions.
European Commission president Ursula von der Leyen said the measures would include Russian banks, liquefied natural gas, Mir payment strategy and ships belonging to ‘secret fleet” Moscow, which Brussels calls "Shadow float".Russia, which condemned Western sanctions as ‘illegal’, warned that any effort to get or redirect its assets would constitute "very serious blow" for the global financial strategy and announced retaliation.
Translated by Google Translator
source:https://www.rt.com/news/625294-eu-bypass-hungary-veto/
