EU, Hungary Reach Deal on Sending Ukraine 18 Billion Euros

Hungary previously vetoed the plan

Hungary on Tuesday lifted its objection to the European Union sending 18 billion euros ($19 billion) to Ukraine after reaching a deal with the EU on funds Brussels wants to deny Budapest.

The EU was looking to block 7.5 billion euros in EU funding from Hungary over allegations of corruption that were raised after Hungarian Prime Minister Viktor Orban won reelection in April.

Under the agreement reached this week, the EU will free up 1.2 billion euros for Hungary, but the remaining 6.3 billion won’t be released until the EU’s European Commission is happy with the reforms it wants Hungary to make.

The 18 billion euros for Ukraine is expected to help cover Ukraine’s massive $38 billion budget deficit for 2023. When Hungary initially blocked the funds, it said it was opposed to the way the EU planned to send the aid, which is by all 27 EU members jointly borrowing the funds.

Hungary has also been holding out on approving Sweden and Finland’s NATO bids, but Orban insists Budapest supports their memberships. Orban’s chief of staff, Gergely Gulyas, said that Hungary’s parliament would begin debating the ratification of the two Nordic nations joining NATO on February 20.

Hungary and Turkey are the only two countries that haven’t approved of Sweden and Finland joining the alliance. Western officials fear that Turkey is willing to delay its approval for a few more months as President Recep Tayyip Erdogan is looking for more concessions from the Nordic countries.

Author: Dave DeCamp

Dave DeCamp is the news editor of, follow him on Twitter @decampdave.