EU may unlock €6.6 billion for Ukraine after change of government in Hungary

The European Union is close to releasing €6.6 billion from the European Peace Fund, which has remained frozen for more than two years due to Hungary’s position.

This is reported by Kaya Kallas.

According to her, after the change of government in Hungary, there was progress in negotiations regarding the fund’s funds.

“We now have a new Hungarian minister, and that also means that we are moving forward with the release of 6.6 billion euros from the European Peace Fund,” Kallas said.

It was precisely because of the blockade by Budapest that EU countries could not agree on new tranches of compensation for states that transferred weapons to Ukraine through the European Peace Fund mechanism.

Kallas noted that EU foreign ministers are currently discussing the further use of these funds. Initially, the fund was created to compensate member states for the costs of military assistance to Ukraine. At the same time, some countries are in favor of directing more money directly to new support packages for Kyiv.

According to the head of European diplomacy, Brussels has already proposed a compromise option that should take into account the interests of both approaches, and is conducting consultations with EU member states.

As previously reported, Ukraine received the seventh tranche of financing from the European Union within the Ukraine Facility, totaling 2.8 billion euros.

As a reminder, the European Union is preparing to provide Ukraine with a loan of 90 billion euros . The corresponding memorandum has already been signed, and Kyiv may receive the first tranche as early as June.