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Sybiha on Orbán: Russia’s most valuable frozen asset in Europe
Ukrainian Foreign Minister Andrii Sybiga responded to Hungarian Prime Minister Viktor Orbán's outrage over the EU's decision on Russian assets.
As reported by Censor.NET, Sibiga wrote about this on social network X.
Yes, Sybiha shared Orbán's post in which he criticizes Brussels' policy.
"Bypassing Hungary and violating European law in broad daylight, Brussels is taking steps to seize frozen Russian assets – this is a declaration of war. Meanwhile, they are demanding an additional €135 billion from member states to fuel the conflict. Hungary will not participate in this bizarre Brussels scheme," Orbán wrote.
Sybiha commented on this post as follows:
The most valuable frozen Russian asset in Europe.
What preceded it?
- As reported, on December 12, the EU agreed to indefinitely freeze €210 billion in Russian assets.
- Hungarian Prime Minister Viktor Orbán has sharply criticized the European Union's decision to freeze Russian assets indefinitely, saying that it is tantamount to a declaration of war.
Russian assets to help Ukraine
- Earlier, European Commission President Ursula von der Leyen proposed using frozen Russian assets as collateral for providing Ukraine with "reparation loans". Formally, Russian assets subject to sanctions will not be confiscated, but Ukraine will repay such loans only after Russia pays reparations.
- According to various estimates, the European Union's "reparations loan" to Ukraine, secured by Russian assets, could amount to €130-140 billion. Its final size will be determined after the International Monetary Fund assesses Ukraine's financing needs in 2026 and 2027.
- In total, Euroclear currently holds more than €175 billion in cash from frozen Russian assets, which could be used to secure a new loan. But before the EU agrees to grant a reparations loan, it will want to repay the G7 loan to Ukraine of €45 billion ($50 billion) agreed last year, which was to be repaid from the proceeds of frozen Russian assets.
