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Hungary blocks 500 million euros from fund financing arms for Ukraine

May 15, 2023

Hungary has blocked the disbursement of the eighth tranche of funds from the European Peace Fund in the amount of 500 million euros for weapons that EU member states are providing to Ukraine.

An informed source told the ANSA news agency.

Image

The 500 million euro tranche was to be disbursed next Monday, May 22, but Budapest blocked the decision, allegedly demanding "guarantees" that the European Peace Fund would not be used in the future exclusively to help Ukraine.

The European Peace Fund is an extra-budgetary instrument with a total of almost eight billion euros.

Through this fund, the EU supports the Armed Forces of Ukraine in seven consecutive support packages, as well as many other countries, such as Mozambique, Georgia, Moldova, Mali, Somalia, Niger, Jordan, Bosnia and Herzegovina, Lebanon, and Mauritania.

Author - Olena Madiak, 15/05/2023

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