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Ukrainian finance chief Serhiy Marchenko lamented a veto from Hungary on a €90 billion loan issued by the EU to prop up his country’s finances in an interview with Euronews after a Brussels summit in which leaders vented frustration atViktor Orbán.
“Definitely not welcomed news from Brussels,” he told Euronews Special Report on Thursday. “But I am confident that sooner rather than later we will secure this loan.”
The loan, approved by EU leaders in December exempting Budapest from participating, has been hijacked by Hungary and Slovakia who accuse Ukraine of sabotaging the flow of cheap Russian oil for political reasons through a Soviet-era pipeline.
In the run up to the summit, the European Commission said Ukraine had agreed to an external inspection in an effort to win over the Hungarians. But Orbán told reporters in Brussels there will be “no money” for Ukraine until flows resume.
“It’s not a joke; it’s not a political game. Zelenskyy should understand that!” he told reporters in Brussels Thursday. The two leaders have clashed for months all practically all subjects, from Ukraine’s accession to the EU to sanctions on Russia.
“We are doing the best we can,” Marchenko said, while refusing to criticise Hungary openly or its politics. “I don’t want to comment on anything that could question our credibility or give additional arguments to our opponents.”
Meanwhile, European leaders expressed frustration both privately and publicly at the impasse. On his way to the meeting, Finnish Prime Minister Petteri Orpo told reporters Orbán is instrumentalising the pipeline and vilifying Ukraine for political reasons.
“He is using Ukraine as a weapon in his election campaign. It is not good. We had a deal. And I think he has betrayed us,” Orpo said in an unusual display of frustration.
A European diplomat told Euronews that the exchange among leaders, which lasted about 90 minutes, was severe. European Council President António Costa told the room that leaders had made a deal and accused Orbán of breaching the principle of good faith binding all EU member states on the basis of “sincere cooperation.”
Still, leaders agree a solution must be found as there is “no plan B” and there is no appetite to reopen a discussion of seizing Russia’s frozen assets to finance Ukraine. One diplomat told Euronews that option was “politically buried” in December.
Belgian Prime Minister Bart De Wever, who rallied support against using the Russian assets hosted by a depository in Belgium, told reporters the focus remains the loan.
Marchenko disagreed.
“We are ready to open again this discussion,” he said. “In December, this intermediary step to provide €90 billion loan was a good signal. But the best signal would be the reparation loan. It is absolutely needed as Russia must definitely pay for the damage.”
“We have not (given up) on the reparations loan. Of course not,” Marchenko added.
Watch the full interview with Ukrainian finance minister Serhiy Marchenko across all Euronews platforms, euronews.com and YouTube.