Hungary requests the EU to reroute funds to Ukraine

Budapest has blocked a new €500 million package of EU financial assistance to Kiev, urging Brussels to redirect its support elsewhere. The eighth tranche from the so-called European Peace Facility (EPF) – a €5.6 billion ($6.08 billion) off-budget fund used to finance and supply foreign militaries – was vetoed by Hungary on Monday. Budapest wanted the EPF to keep its original global scope, instead of being used exclusively to finance Kiev. The EPF was originally established in 2021, with a proclaimed goal of boosting the EU’s ability to maintain peace and strengthen regional and international security. Hungary has found itself at odds with Brussels over the conflict, taking a neutral stance and refusing to supply Kiev with weaponry. Hungary has also prohibited weaponry shipments heading to Ukraine from going through its territory, as well as opposed the bloc’s anti-Russian sanctions.