Hungary Blocks EUR 500 mln Intended to Buy Weapons for Ukraine
Hungary blocked the payment of the eighth tranche from the European Peace Facility of EUR 500 million for weapons that EU member states send to Ukraine, according to ukrinform.net.
The EUR 500 mln tranche was set to be paid next Monday, May 22. But Budapest blocked the decision, allegedly demanding "guarantees" that the European Peace Facility would not be used in the future to help Ukraine exclusively.
As reported, on March 20, the European Council adopted a decision to accelerate the supply of ammunition to Ukraine and to increase the capabilities of the European defense industry.
Under that policy, EU member states will supply Ukraine with one million artillery rounds over the next 12 months.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.