💶 Hungary’s veto will no longer matter: the EU has found a way to give Ukraine frozen Russian assets – Politico

The European Commission is developing a mechanism that will allow EU sanctions against Russia to continue by qualified majority vote, removing the right of individual countries, including Hungary, to block decisions. This will pave the way for providing Ukraine with a loan of about €140 billion secured by frozen Russian assets held at Belgium’s Euroclear, Politico reports.

Source: OBOZREVATEL

Currently, Hungarian Prime Minister Viktor Orbán has the right to veto, as EU sanctions require unanimity and are reviewed every six months. To bypass this obstacle, the European Commission proposes applying Article 122 of the EU Treaty, which allows member states to act “in the spirit of solidarity” during economic crises.

Under the new interpretation, the continuation of sanctions will be possible by majority vote, reducing Belgium’s financial risk and ensuring that funds are allocated to Ukraine without delays. EU lawyers also note that this could reduce the frequency of sanction votes from every six months to once every three years.

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The EU summit, where the use of Russian assets for a loan to Ukraine will be discussed, is scheduled for December 18, 2025. The full proposal for the agreement is expected on December 3.