EU executive approves 900 mln euros in funds for Hungary

The Hungarian national flag and the flag of the European Union fly on the building of the National Bank of Hungary in Budapest January 10, 2013. REUTERS/Laszlo Balogh/File Photo Acquire Licensing Rights

BRUSSELS, Nov 23 (Reuters) – The European Union executive on Thursday approved 900 million euros ($1 billion) in advance payments under Hungary’s hitherto frozen recovery fund, as the bloc seeks to overcome Budapest veto over aid to Ukraine.

The Brussels-based executive, the European Commission, froze Hungary out of the bloc’s post-pandemic economic stimulus due to concerns over corruption and backpedalling on democratic checks and balances under veteran Prime Minister Viktor Orban.

In turn, Hungary has blocked EU decisions otherwise expected next month to grant Ukraine 50 billion euros in economic aid through 2027 and start accession talks with Kyiv. Budapest also stalled a plan to extend 20 billion euros in EU military aid to Kyiv, and is against sanctions over Russia for waging the war.

EU support is crucial to Ukraine, which has been struggling to push back a large-scale Russian invasion since February, 2022.

Orban, who touts his ties with Moscow, says Hungary is no more corrupt than other EU countries.

Budapest has rolled out a billboard campaign vilifying the European Commission, and Orban’s Fidesz party is pushing a bill on « protecting national sovereignty » from foreign meddling – both moves raising the stakes in Hungary’s clashes with the EU.

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