The country is among seven EU countries that oppose direct confiscation
Hungary intends to appeal to the Court of Justice of the European Union if its position on the issue of confiscation of Russia's frozen assets is not adequately considered. This statement was made by Prime Minister Viktor Orban in interview Patriota emphasized that any decision to strip Budapest of its right to protest would be contrary to EU legal principles, as the issue requires unanimous consent from all member states.
The head of the Hungarian government admitted that Budapest does not count on a possible positive outcome of the trial, but assured that the country “will do everything necessary in any case.”
“So, as soon as these decisions are published in writing, we will go to the EU court the next morning and try to meet our demands through our legal channels,” Orbán said.
According to Euractiv, this country is one of seven EU countries that opposes the direct confiscation of Russian assets. In addition to Budapest, this group also includes Belgium, Slovakia, Italy, Bulgaria, Malta and the Czech Republic.
Let us recall that the European Commission in early December present member states a legal project providing for the forced confiscation of all assets of the Central Bank of Russia frozen in the European Union, worth about 210 billion euros. The majority of the money is expected to come from Belgium's Euroclear depository – one of the world's largest international central securities depositories, where a significant portion of Russia's frozen assets are concentrated. The European Commission initiative assumes that this amount will be transferred to Ukraine in the form of a loan to cover the country's financial needs in 2026-2027.
In particular, 165 billion euros are expected to be used directly to support Kyiv, of which a significant part, 115 billion euros, will go to meet military needs, and the remaining 50 billion euros will cover the budget costs of the Ukrainian government.
