The eurobond proposal was put forward by the European Commission on December 3, but its approval requires the consent of all 27 EU countries. Hungary's position makes the implementation of this scenario impossible.
Hungary's refusal to participate in joint bonds worth 90 billion euros, which were to be backed by the seven-year EU budget, was announced just hours before the meeting of German Chancellor Friedrich Merz with Belgian Prime Minister Bart De Wever in Brussels, where issues of credit support were discussed.
Meanwhile, according to Bloomberg, U.S. officials are trying to persuade several EU countries to oppose the plan proposed by the European Commission to use part of the frozen Russian assets. They argue that these funds may be needed for a potential peace agreement between Moscow and Kyiv, and should not be directed towards continuing military actions.
A similar position was expressed by the Belgian Prime Minister at the end of November, pointing out that the use of Russian assets could negatively impact the prospects for future peace negotiations.
