Breaking: Hungary to Block €90 Billion Ukraine Loan Until Oil Transit Resumes + Video

Foreign Minister Peter Szijjarto issued an extraordinary announcement on social media, outlining the latest developments and their consequences for Hungary.

Peter Szijjarto, Hungary's Minister of Foreign Affairs and Trade (Photo: Nurphoto)

Szijjarto  stated that Ukraine has decided not to resume oil deliveries to Hungary through the Druzhba pipeline, despite the fact that there are no physical, technical, or engineering obstacles preventing shipments from restarting. He made clear that Kyiv’s move is a purely political decision aimed at blackmailing Hungary.

Ukraine is doing this in collusion with Brussels and the Hungarian opposition in order to create oil supply disruptions ahead of the elections and force Hungary into a parliamentary vote with gasoline prices soaring to 1,000 forints per liter,

he said.

The minister emphasized that the Hungarian government will not yield to such pressure. Hungary will not support Ukraine’s war effort, nor will it pay for it.

We will not allow the Hungarian people’s money to be sent to Ukraine, and we will not allow political blackmail to drive up fuel prices in Hungary,

 he stressed. Szijjarto added that Ukraine’s actions violate a prior agreement concluded between the European Union and Ukraine.

As long as Ukraine continues to block the operation of the Druzhba oil pipeline, Ukraine will not have access to the €90 billion war loan. Hungary will block the disbursement of the €90 billion loan earmarked for Ukraine,

he announced.

Prime Minister Viktor Orban also shared the government’s decision on social media, writing that Hungarians cannot be blackmailed.

At the center of the current dispute is the Druzhba oil pipeline, through which a significant portion of Hungary’s crude oil supply arrives. Transit was halted on January 27 and has not resumed since.

Kyiv claims that deliveries were suspended due to an attack on the pipeline. The Hungarian government, however, maintains that there are no technical or engineering barriers to restoring transit and therefore considers the decision to be political.

Meanwhile, negotiations are underway in Brussels over a new financial package worth tens of billions of euros aimed at maintaining the functioning of Ukraine’s state budget. Because EU joint borrowing requires the unanimous support of all member states, Hungary’s position has become a decisive factor in the outcome.

Cover photo: Peter Szijjarto, Hungary's Minister of Foreign Affairs and Trade (Photo: Nurphoto)