The China Mail - Defiant Orban digs in over blocked Ukraine loan at EU talks

USD -
AED 3.6725
AFN 64.497463
ALL 80.927638
AMD 360.25116
ANG 1.789785
AOA 916.999933
ARS 1523.408897
AUD 1.42367
AWG 1.8025
AZN 1.697874
BAM 1.743153
BBD 2.009733
BDT 123.405734
BGN 1.747831
BHD 0.376563
BIF 2990.864935
BMD 1
BND 1.275344
BOB 11.749607
BRL 4.977401
BSD 0.99787
BTN 94.679988
BWP 13.746112
BYN 2.929884
BYR 19600
BZD 2.006792
CAD 1.40144
CDF 2316.000448
CHF 0.8243
CLF 0.025136
CLP 992.520334
CNY 6.67805
CNH 6.668145
COP 3160.53
CRC 455.351652
CUC 1
CUP 23.947629
CVE 98.275839
CZK 21.711797
DJF 177.684293
DKK 6.664135
DOP 61.203754
DZD 134.139342
EGP 55.5007
ERN 15
ETB 162.300644
EUR 0.891598
FJD 2.237199
FKP 0.747708
GBP 0.747925
GEL 2.590254
GGP 0.747708
GHS 11.56957
GIP 0.747708
GMD 73.999969
GNF 8830.266031
GTQ 7.627485
GYD 208.984889
HKD 7.84424
HNL 26.789009
HRK 6.716898
HTG 130.769574
HUF 327.075495
IDR 18121
ILS 3.11755
IMP 0.747708
INR 95.135404
IQD 1512.669453
IRR 1832375.000369
ISK 121.609805
JEP 0.747708
JMD 158.361483
JOD 0.708989
JPY 157.0915
KES 129.880336
KGS 87.448603
KHR 4076.467181
KMF 439.502755
KPW 899.999961
KRW 1323.310269
KWD 0.31069
KYD 0.831558
KZT 453.052166
LAK 22453.75425
LBP 89355.252721
LKR 331.329462
LRD 170.126293
LSL 16.531803
LTL 2.95274
LVL 0.60489
LYD 6.390431
MAD 9.801113
MDL 18.010775
MGA 4512.517937
MKD 54.906662
MMK 2099.851486
MNT 3598.994658
MOP 8.061391
MRU 39.878252
MUR 47.139877
MVR 15.459805
MWK 1730.229325
MXN 18.719965
MYR 4.084028
MZN 63.897889
NAD 16.531876
NGN 1346.46017
NIO 36.718506
NOK 9.32605
NPR 151.487981
NZD 1.75498
OMR 0.38241
PAB 0.997776
PEN 3.426858
PGK 4.468607
PHP 63.89499
PKR 276.123227
PLN 3.926695
PYG 5770.996176
QAR 3.637271
RON 4.767802
RSD 104.724641
RUB 81.526027
RWF 1474.255564
SAR 3.744837
SBD 8.07458
SCR 14.037053
SDG 601.500123
SEK 9.930199
SGD 1.27876
SHP 0.7473
SLE 22.950164
SLL 20969.504398
SOS 570.236811
SRD 37.628019
STD 20697.981008
STN 21.835034
SVC 8.730916
SYP 13001.999685
SZL 16.531342
THB 33.780292
TJS 9.195002
TMT 3.51
TND 2.979603
TOP 2.40776
TRY 49.762203
TTD 6.779918
TWD 32.578505
TZS 2644.982997
UAH 45.173665
UGX 4395.741514
UYU 40.018004
UZS 11941.282899
VES 879.788896
VND 25855.5
VUV 118.791596
WST 2.767791
XAF 584.849913
XAG 0.018501
XAU 0.000249393973
XCD 2.70255
XCG 1.798323
XDR 0.707052
XOF 584.849913
XPF 106.293282
YER 236.09911
ZAR 16.625745
ZMK 9001.201353
ZMW 20.061676
ZWL 321.999592
SSP 5745.299755
MXV 2.112001
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

Defiant Orban digs in over blocked Ukraine loan at EU talks

Defiant Orban digs in over blocked Ukraine loan at EU talks

A defiant Hungarian leader Viktor Orban vowed Thursday to keep blocking a massive loan for Ukraine despite heavy pressure from EU partners, who were headed into a Brussels summit hoping to unlock the much-needed funding.

Text size:

Moscow's closest partner in the bloc, the nationalist prime minister has long resisted helping Kyiv to repel Russia's invasion, stalling EU aid and repeated rounds of sanctions.

This time around, Orban is holding up a 90-billion-euro ($104 billion) loan as leverage in a feud over damage to a pipeline running through Ukraine -- which has choked the flow of Russian oil to Hungary and Slovakia.

"The Hungarian position is very simple. We are ready to support Ukraine when we get our oil, which is blocked by them," Orban said on arriving at the Brussels summit -- which Ukraine's Volodymyr Zelensky was to address by videolink later in the day.

The EU's top diplomat Kaja Kallas warned on arrival it was "really, really time" to show support for Ukraine by unlocking the funding -- which Hungary's prime minister signed up to in December along with the rest of the bloc.

But Orban appeared determined to play hardball, as he leans into anti-EU and anti-Ukrainian narratives ahead of close-fought national elections on April 12 -- to the exasperation of fellow EU leaders.

"He's using Ukraine as a weapon in his election campaign, and it's not good. We had a deal," said Finland's Prime Minister Petteri Orpo.

The weeks-long spat has seen landlocked Hungary and Slovakia both accuse Ukraine of stalling on pipeline repairs -- while Zelensky has called it "blackmail" to link the issue to support for its war effort.

The European Commission moved this week to unblock the situation by sending a team to help restore oil transit, but Budapest has dismissed the initiative, with Orban describing it as a "fairy tale" Thursday.

"We are waiting for the oil," Orban told reporters -- calling the matter "existential" for Hungary.

"It's not a joke, it's not a political game."

Others disagreed -- suggesting the block was squarely motivated by national politics. Cue a looming showdown and a tricky balancing act for Orban's EU counterparts.

"It will be complicated before the elections in Hungary; I have the impression that this is part of his election campaign," said Belgium's Bart de Wever.

"In any case, we have to implement the decisions we've made here," he added, calling Orban's U-turn "unacceptable".

- 'No Plan B' -

It's a well worn routine in Brussels, where Orban has held up countless decisions on Ukraine, and solutions have ultimately been found -- in one famous case having him leave the room while the bloc approved the start of membership talks with Kyiv.

A German government official described a "certain momentum" on the pipeline issue -- seeing a chance of a breakthrough when leaders come face-to-face on Thursday.

But the message from other capitals was less optimistic.

"Will we make progress? I have strong doubts," said an EU diplomat, predicting Orban was "not going to budge" on a stance playing well with his voter base at home.

Complicating matters, leaders are wary of offering Orban -- who is trailing main rival Peter Magyar in the polls -- a chance to bolster his image as a maverick on the EU stage by publicly ganging up on him.

Failure to break the deadlock this week would most likely push the issue back until after the Hungarian vote, whatever its outcome.

Can Ukraine hold out until then? Unclear, say EU insiders.

Facing a budget shortfall four years into the war, Kyiv is estimated to need an influx of funds in early May -- implying a decision to unlock the EU loan by mid-April.

As Orban has dug in, there has been talk of alternative solutions to help keep Ukraine afloat -- but a second EU diplomat poured cold water on the notion.

"There's no bridging solutions or Plan B. There's only one plan, and that's Plan A," they said. "Orban should deliver on his promise."

F.Brown--ThChM