PM Orbán Criticizes EU’s Proposal on Frozen Russian Assets and Joint Debt

Brussels: In a live interview from Brussels, Prime Minister Orbán declared the European Union’s proposal to hand over frozen Russian assets to Ukraine a “dead issue” and “nothing short of a declaration of war.” The prime minister underscored Hungary’s rejection of any plan that could implicate the country in what he views as a dangerous escalation of the Russia-Ukraine conflict.

According to About Hungary, Prime Minister Orbán mentioned that there are enough opposing countries to form a “blocking minority” within the EU decision-making process. “So I think this issue is dead,” he stated. Despite potential ongoing ‘rear-guard actions,’ he believes the proposal should be reconsidered entirely. The prime minister emphasized the need for a fresh approach on how to proceed.

Speaking on the possibility of a joint EU loan to support Ukraine, Prime Minister Orbán was unequivocal. “Hungary cannot support a joint debt that creates financial obligations for us,” he declared. Citing Hungary’s constitutional requirement
for parliamentary approval on debt arrangements, he added, “I do not have such authorization, and I don’t think any prime minister in Hungary will ever get parliamentary approval to indebt Hungary through a European Union loan.”

PM Orbán highlighted the need for a shift in focus: “We should not be financing war, but peace. I am trying to steer things in that direction today-towards peace, not war.”

Turning to recent events in the European Parliament, Prime Minister Orbán raised concerns over a proposal to ban Russian gas and oil across all member states. “If this passes, we won’t be able to protect utility costs,” he warned. The prime minister praised Hungarian MEPs for defending national interests against this proposal, contrasting their actions with other parties that he claimed were absent.

He also expressed support for European farmers, criticizing the Mercosur trade deal and the EU’s Green Deal regulations. “Mercosur kills farmers. It’s like shooting them in the leg, then tying their legs together so
they have no chance in global competition,” he argued.

On the constitutional risks of the EU’s foreign policy shift, Prime Minister Orbán was blunt: “Two countries are at war-Russia and Ukraine. And the plan is for the EU to seize assets from one side and give them to the other. That’s a declaration of war. It oversteps any mandate we have.”

In closing, he reiterated his guiding principle: “We must stay out of this war. We must work for peace.”