Hungary Prime Minister Victor Orban is standing in the way of an EU plan to seize 140 billion euros from Russian assets and to lend to Ukraine. But Brussels believe they found a legitimate way to exclude the country from the decision -making process.

Normally, one meter so active As long as the Brussels plan to seize Moscow’s stocks would require unanimity of the 27 Member States, providing essentially veto to Orbanwhich is close to Russian President Vladimir Putin.

As Orban in the past has tried many times to prevent sanctions Against the Kremlin, EU legal experts are working on a plan that will ensure that the decision on the proposed loan to Ukraine can be made with majority.

According to four sources who spoke to Politico, the EU hopes to base its plan on a series of conclusions of European Councilwhich all EU leaders had agreed in December 2024, even Orban.

Then, in their joint statement, the 27 reported: ‘Russia’s assets must remain committed until Russia stops war against Ukraine and compensate the country for the damage caused by this war. “

At that time, the statement had been interpreted as follows: assets should remain boundmainly in Euroclear bank in Belgiumand not accessible from Russia, while interest could be used for war.

EU new argument is that this statement provides adequate coverage for the Change the rules for penalties And it does not need unanimity by all leaders, but a majority.

“This would require a high -level political agreement from all or by most Heads of State or Government”, The Commission said in a note to EU ambassadors who met on Friday.

It is not an obstacle only Hungary

However, as Politico notes, the majority finding It is not as easy as it soundsas there are other Russian -friendly countries such as Slovakia.

At the same time, and the Belgium has reacted to the planexpressing concerns that the seizure of EU funds could exposed Belgium and Eurocleara financial institution that manages Russia’s committed state assets in Legal retaliation from Moscow.

“To get Putin’s money and leave the dangers to us. This is not going to happenI want to be very clear on it »Belgian Prime Minister Bart De Wever told New York on the sidelines of the UN General Assembly.

“If countries find that central bank money can disappear if European politicians consider it appropriate, it may decide to withdraw their stocks from the eurozone‘he stressed.

However, De Wever admitted that he was willing to discuss the matter, and Belgium widely supported Putin’s measures, as opposed to Hungary and Slovakia.

Other EU countries are likely to interveneif agreement is reached, so as to replaced Euroclear’s assets to be given to Ukraine with guaranteed bills.

EU leaders will meet the Next week in Copenhagenwhere discussions are scheduled for the loan. Official decisions will not be made, as they are expected at the Summit at the end of October, as finance ministers are examining the proposal in Luxembourg on October 10.

“The goal (in Copenhagen) is to gather adequate support from other countries to isolate Orban”, said an EU diplomat on condition of anonymity. ‘We are in a gray zone’, noted in Politico.

OR Germany, Spain, Poland and Baltic countries bordering Ukraine is Key supporters of the EU plan. However, the France and the Italy have shown so far cautiousness against any innovative idea for the use of frozen state assets.

The 140 billion euro bet

Most of the Russian state assets has been frozen in Euroclear Since Putin started the war in February 2022. Much of them had Invested in western state bonds expired and have converted into cash. These cash is currently located in a deposit account at European Central Bank.

Brussels has already consumed the possibility of using the frozen assetsbut previous attempts to use cash -bound cash have encountered strong political resistance.

The compensation loan will be disbursed to installments and will be used for “European Defense Cooperation” and “to meet fiscal needs,” the Commission said in a note.

But a veto from Budapest will he essentially returned Russian money to Moscowleaving them European countries to undertake repayment of loan to Ukraine. And that is why it is sought to reduce this risk.

But several countries are worried that the use of old statements To determine the future policy will create a dangerous previous one. ‘Hungary has reasons to react legally’, said an EU diplomat. “If skeptics do not change their minds, there is no issue of Orban”he stressed another.