EU Takes IDR 24.6 Trillion from Russian Assets Makes Hungary Furious, Calls It Shameless

JAKARTA – Decision European Union (EU) use the benefits gained from Russian assets The frozen amount of 1.4 billion euros or USD 1.50 billion, which is equivalent to Rp. 24.5 trillion (exchange rate of Rp. 16,367 per USD), to be given as aid to Ukraine made Hungary furious. As is known, Hungary is one of the members that rejects plans to utilize Russian assets.

Hungary accused fellow EU members of breaking rules and being ‘shameless’, after agreeing to give profits from frozen Russian assets to Ukraine for weapons and other aid.

EU members decided in May to use profits from frozen Russian assets in the European Union to help Ukraine, with 90% of the funds earmarked for military aid. However, according to diplomats, Hungary rejected the deal because of the legal steps required.

Hungary has so far maintained closer ties with Moscow than any other European Union country. It did not send weapons to Ukraine and Hungarian Prime Minister Viktor Orban, also criticized EU and NATO members for doing so, saying they were fueling war.

At a meeting of EU foreign ministers in Luxembourg earlier this week, chief diplomat Josep Borrell said there had been a unanimous agreement on a scheme to use frozen Russian assets because Hungary had opted out of an earlier decision to support the scheme.

“We will now speed things up, without this blockage,” Borrell told reporters after the meeting.

He said 1.4 billion euros would be available next month and another 1 billion euros by the end of the year. The funds will be used to help Kiev, by supporting its air defense, providing ammunition supplies and support to Ukrainian industry.

EU governments on the military aid committee supported the plan and ministers at the Luxembourg meeting also supported it, diplomats said. However, it is said that Hungarian Foreign Minister Peter Szijjarto did not say much when Borrell prepared the plan.

But Szijjarto was much more vocal on Facebook. “This is a clear red line, there are no more examples of shameless violations of common European rules than before,” he said.

“It is very clear that our colleagues in Brussels, our EU legal team are examining the possibilities of legal avenues to seek justice for Hungary,” Szijjarto said.

The European Union’s plan to immediately use profits from frozen Russian assets differs from a decision by G7 leaders this month.

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