Hungary blocks $50 billion loan to Ukraine until after US elections
Hungary will postpone the final decision on the allocation of a $50 billion loan to Ukraine until after the US presidential election. Budapest has also postponed the decision to extend EU sanctions against Russia.
According to Censor.NET, citing Reuters, this was stated by Hungarian Finance Minister Mihaly Varga.
"We believe that this issue, the extension of Russian sanctions, should be resolved after the US elections. We need to see in which direction the future US administration will go on this issue," he explained.
In June, the G7 leaders agreed to provide a loan from frozen Russian assets worth about $300 billion. The EU is ready to provide up to 35 billion euros, with the rest of the funds to be provided by the US and other G7 members.
Washington insists on reviewing the terms of the extension of EU sanctions against Russia, proposing to change them from every six months to three years. It is noted that this is necessary to ensure stable financing of the loan that the G7 countries plan to provide.
According to the publication, this decision will be discussed at a meeting of G7 finance ministers in Washington in late October, but final agreements will be reached after the US elections on November 5.
