Hungary Condemns EU of Blackmail Regarding Ukraine Aid Dispute

Hungary has come forward to accuse the European Union of engaging in blackmail tactics after a leaked document purportedly revealed the bloc's intentions to undermine Budapest's economy should it oppose providing further aid to Ukraine at an upcoming summit.

Accusations and Denials

The leaked paper, cited by the Financial Times, suggests that Brussels has devised a strategy to target Hungary's economic vulnerabilities and erode investor confidence due to its refusal to release funds to Kyiv. In response, Hungary's minister for EU affairs took to social media to denounce the alleged document, asserting that Hungary will not succumb to blackmail. He further claimed that the leaked document only confirms the Hungarian Government's long-standing assertion that access to EU funds has been utilized for political blackmail by Brussels.

Alleged Plan and EU Response

The leaked document reportedly outlined a plan to shut off all funding to Hungary and create market instability, weaken the country's currency, and increase borrowing costs if Budapest does not comply with the EU's demands. However, a senior EU official has downplayed the significance of the leaked document, describing it as a background note on the current state of the Hungarian economy and stating that it does not propose any specific plan concerning Budapest, the EU budget, or Ukraine funding. The official emphasized that budget negotiations are ongoing and aimed at reaching a compromise acceptable to all 27 member states.

Hungary's Shifting Position

Tensions have escalated between the EU and Hungary, its most pro-Russia member state, following Prime Minister Viktor Orban's commitment to block the allocation of 50 billion euros in financial aid to Ukraine from the EU budget at an emergency leaders' summit scheduled for later in the week. Despite this stance, Hungary appears to be softening its position, as indicated by a report in the Financial Times, which cited the Hungarian minister stating that Budapest had submitted a new proposal to Brussels, signaling openness to utilizing the EU budget for Ukraine aid with the inclusion of provisions allowing Hungary to reverse its decision at a later date. Orban's political director has criticized the EU's unwillingness to compromise with Budapest, asserting that "Brussels is using blackmail against Hungary like there's no tomorrow," despite the Hungarian government's proposal for a compromise. The European Union has yet to comment on Hungary's new proposal. Hungary has consistently posed challenges to the EU's support for Ukraine and remains the sole holdout in Sweden's bid to join NATO, following Turkey's recent approval of Stockholm's membership bid. Orban is scheduled to meet with his Swedish counterpart later in the week to further discuss the matter.