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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

EU set for summit showdown on Ukraine with Hungary’s Orban

Hungarian Prime Minister Viktor Orban speaks during a news conference following talks with Russian President Vladimir Putin in Moscow, Russia. Photo Credit: Yuri Kochetkov
Hungarian Prime Minister Viktor Orban speaks during a news conference following talks with Russian ... Hungarian Prime Minister Viktor Orban speaks during a news conference following talks with Russian President Vladimir Putin in Moscow, Russia. Photo Credit: Yuri Kochetkov
Hungarian Prime Minister Viktor Orban speaks during a news conference following talks with Russian President Vladimir Putin in Moscow, Russia. Photo Credit: Yuri Kochetkov
Hungarian Prime Minister Viktor Orban speaks during a news conference following talks with Russian ... Hungarian Prime Minister Viktor Orban speaks during a news conference following talks with Russian President Vladimir Putin in Moscow, Russia. Photo Credit: Yuri Kochetkov

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The EU is set for a summit showdown on Ukraine with Hungary’s Orban. On Thursday, the leaders of the European Union will gather for a meeting that will have significant implications for Ukraine. Hungarian Prime Minister Viktor Orban has blocked the beginning of EU membership discussions and the provision of fifty billion euros ($54 billion) in financial assistance for Kyiv.

The conference occurs at a vital juncture in Ukraine’s struggle against Russia’s invasion. This is because a counter-offensive has failed to make significant gains, and the Biden administration has not yet been able to get a $60 billion assistance package for Kyiv through Congress.

Several officials and diplomats have stated that they are prepared for a challenging series of meetings that may last far into the night on Friday or the weekend.

It will be possible for Kyiv to claim a geopolitical triumph if the leaders of the European Union give the go-ahead for membership discussions and the financial package that will last for four years. If there is a failure to reach an agreement, Moscow will most certainly view this as an indication that Western support for Ukraine is waning.

Except for Orban, all 27 national leaders of the European Union have expressed their support for the beginning of membership discussions. On the other hand, such a choice demands unanimous consent, and the Hungarian, who has strong links to Moscow, has argued that Ukraine is not prepared to do something of this nature.

The Ukrainian President, Volodymyr Zelenskiy, stated that his nation had completed the required political changes to receive the go-ahead, and he asked the European Union to honor its obligations. This statement was made on the preceding day of the summit.

While on social media, he said, “I count on EU leaders acknowledging Ukraine’s efforts and taking this historic step.” “Ukraine fulfilled its part and proved that it can achieve tremendous results despite unprecedented challenges.”

The French President, Emmanuel Macron, and the German Chancellor, Olaf Scholz, were scheduled to meet with Orban in the morning before the summit. They were also scheduled to meet with the head of the European Commission, Ursula von der Leyen, and the president of the Council, Charles Michel. This meeting was an indication of the intense diplomatic efforts that have been made about the problem.

Orban has emphasized corruption in Ukraine and other issues to support his position. On the other hand, officials and diplomats from the European Union suspect he is using the matter as a bargaining chip to obtain funds that the EU has suspended due to worries about the rule of law in Hungary.

When asked about the situation on Wednesday, the Prime Minister of Belgium, Alexander De Croo, stated, “We are not in a Hungarian bazaar where we can exchange one thing for another.” Ukraine is a nation that is committed to upholding democratic principles at all times. This might serve as a lesson for Orban himself.

RESTORING HUNGARIAN ACCESS TO FUNDS IS REQUIRED.

On Wednesday, the European Commission, the executive body of the European Union, determined that Hungary had satisfied the standards regarding the independence of its judiciary. As a result, it reinstated Hungary’s access to up to 10.2 billion euros in reimbursements for potential economic initiatives.

Last month, the Commission made a recommendation to the leaders of the European Union that they agree to begin accession discussions with Ukraine. A second unanimous decision would still be required to reach a consensus on a framework for negotiations, potentially in March.

On the day of the conference, the newly elected Prime Minister of Poland, Donald Tusk, stated that his role would be to reinforce European commitment to defend Ukraine against Russia’s invasion. “Apathy toward Ukraine is unacceptable,” Tusk stated, adding that he will try to convince “some member states” of his position.

According to officials and diplomats, a compromise may entail a longer gap between the two choices and wording in the summit declaration on requirements that must be satisfied.

Orban has also voiced opposition to the Commission’s suggestion to give Ukraine grants and loans totaling fifty billion euros to keep the state operational as part of a more extensive adjustment to the EU budget. In addition, such a modification needs the consensus of the EU governments, which would be responsible for paying for it.

According to the officials, if Hungary maintains its position, the other countries of the European Union might establish finance for Ukraine that is separate from the budget; however, this would be a more complicated and costly process.

Johannes Hahn, the Commissioner for the Budget of the European Union, stated to Reuters that he believed Hungary would ultimately consent to the package because it included funds for other projects that Budapest would benefit from.

“This is a package, and it is not just for Ukraine,” she said. According to Hahn, “There is something in it for migration, border protection, support of countries like Turkey, which are currently good friends of Hungary, and also to get additional financial means.”


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