EU will completely stop funding Hungary if it blocks new aid to Ukraine at a Summit this week.
This was reported by The Financial Times, citing an internal EU document.
According to the publication, if Hungarian Prime Minister Viktor Orbán vetoes the aid to Ukraine, EU leadership may publicly declare a complete shutdown of Budapest's financing. In particular, EU may collapse the exchange rate of the Hungarian forint and reduce Hungary's investment attractiveness.
Hungary's Minister for EU Affairs, János Bóka told The Financial Times in a commentary that he wasn't aware of such threats.
"Hungary doesn't connect support for Ukraine with access to EU funds and is against other countries making such a connection. Hungary will continue to participate constructively in the negotiations," he said.
Interviewed sources in EU diplomatic circles emphasized that many countries support such a plan.
We will remind, earlier the European Parliament approved a joint resolution calling on the European Council and Member States to determine whether Hungary has committed serious and persistent violations of EU values.
Recall, at the February 1 Summit in Brussels, EU leaders are planning to adopt an agreement on a €50bn aid package for Ukraine for 2024-2027, even despite a possible "blockage" by Hungary.