During the upcoming meeting of the foreign ministers of the European Union countries, scheduled for March 16, the main focus will be on further support for Ukraine. This is particularly relevant in light of the armed confrontation in the Middle East, which is affecting the arms supplies in European countries.
This is reported by Finway
€90 Billion Loan for Ukraine: Situation and Obstacles
One of the key topics of discussion will be the provision of a €90 billion loan to Ukraine, the final decision on which has yet to be made due to Hungary’s blockade. Although EU leaders reached an agreement on this matter at the end of last year, Budapest has obstructed the implementation of this initiative.
As representatives of the diplomatic corps emphasize, no alternative scenarios or backup options for the aid plan to Ukraine are currently being considered. European leaders are focused on mobilizing all possibilities to implement the already reached agreement and to allocate funds to Kyiv as quickly as possible.
“A European leader made a commitment at the leaders’ level, and a few weeks later says, ‘You know what, maybe not.’ I consider this the main problem. And the only thing we should focus on now is to ensure that this loan, this €90 billion, reaches Ukraine as soon as possible,” said one of the interlocutors to Radio Liberty.
Pressure on Budapest and the Future of the Agreement
Diplomats indicate that the vast majority of EU member states are actively insisting on the urgent allocation of the loan to Ukraine. However, it has not yet been determined how to influence the decision of Hungarian Prime Minister Viktor Orbán, who blocked the relevant agreement. According to European negotiators, the argument for making a decision as soon as possible is clear, as this is an agreement reached back in December 2025 at the highest level.
It is known that Hungary, along with Slovakia, which did not join this loan agreement (24 EU countries formally joined), insists on maintaining the veto until the resumption of the transportation of Russian raw materials through the Druzhba pipeline. This has become a factor in blocking not only financial assistance to Ukraine but also the 20th package of sanctions against Russia.
Diplomats have also refrained from making predictions about whether Hungary’s and Slovakia’s veto will remain in place until the conclusion of parliamentary elections in Hungary, where, according to polls, Viktor Orbán may lose power.