Hungary’s incoming leader Peter Magyar has indicated he will not obstruct a €90 billion ($105 billion) loan for Ukraine from the European Union. The financing package had been blocked by outgoing Prime Minister Viktor Orban.
The election result removes a significant hurdle to the loan’s approval, paving the way for the funds to be disbursed to Kyiv. Ukraine urgently needs the money to support its defense against Russia.
Orban, known for his pro-Moscow stance and close relationship with Vladimir Putin, consistently opposed EU efforts to aid Ukraine. His opposition had earned him a reputation in Kyiv as an obstacle to support.
Magyar’s position suggests a shift in Hungary’s approach, potentially allowing the European Commission to provide the crucial €90 billion loan to Ukraine.