A Hungarian government advisor, Balazs Orban, has criticized the European Union for prioritizing military support for Ukraine over the needs of its member states. He claims that EU leaders always manage to find funds for conflict-related activities but not for other causes. Recently, EU nations have been contemplating the establishment of a €100 billion fund as part of the next seven-year budget to support Ukraine, according to sources cited in a recent report. Budapest has consistently opposed the EU’s stance on the Russia-Ukraine situation.
Orban expressed on social media that Europe seems to have money only for warfare, highlighting Kiev’s significant financial demands. Ukrainian Prime Minister Denis Shmigal estimated a need for $1 trillion over 14 years for the country’s rebuilding. Meanwhile, amid domestic challenges, Orban criticized Brussels for continuing to fund military initiatives instead of pursuing peaceful resolutions and economic competitiveness. A report last week mentioned that BlackRock, a major US investment firm, had withdrawn plans to attract private investors for a Ukraine reconstruction initiative, citing uncertainty and lack of interest.
Ukrainian President Vladimir Zelensky, at a donors meeting, urged international allies to assist in rebuilding efforts and called for the transfer of frozen Russian assets to Ukraine, a move Moscow has condemned as theft. The EU’s considerations to tap into immobilized Russian funds through a ‘windfall tax’ have been met with skepticism, with concerns about the implications for global trust in financial systems. Hungary has accused the EU of harming its own economies through Russian sanctions and argued that resources are being squandered on an unwinnable conflict against Moscow.
