Hungary says it will block the EU's $106 billion loan to Ukraine until Russian oil resumes flowing through a key pipeline that Moscow damaged | Fortune

"Hungary will block a planned 90-billion-euro ($106-billion) European Union loan to Ukraine until the flow of Russian oil through the Druzhba pipeline resumes, Hungary's foreign minister said. Russian oil shipments to Hungary and Slovakia have been interrupted since Jan. 27, after Ukrainian officials said a Russian drone attack damaged the Druzhba pipeline, which carries Russian crude across Ukrainian territory and into Central Europe. Hungary and Slovakia, which have both received a temporary exemption from an EU policy prohibiting imports of Russian oil, have accused Ukraine - without providing evidence - of deliberately holding up supplies."

"In a video posted on social media Friday evening, Foreign Minister Péter Szijjártó accused Ukraine of "blackmailing" Hungary by failing to restart oil shipments. "We will not give in to this blackmail. We do not support Ukraine's war, we will not pay for it," Szijjártó said. "As long as Ukraine blocks the resumption of oil supplies to Hungary, Hungary will block European Union decisions that are important and favorable for Ukraine.""

"Hungary's decision to block the key funding for Ukraine came two days after it suspended shipments of diesel to its embattled neighbor until oil flows through the Druzhba were resumed, and only days before the fourth anniversary of Russia's full-scale invasion. Nearly every country in Europe has significantly reduced or entirely ceased Russian energy imports since Moscow launched its war in Ukraine on Feb. 24, 2022."

Hungary will block a planned 90-billion-euro EU loan to Ukraine until Russian oil flows through the Druzhba pipeline to Hungary resume. Oil shipments to Hungary and Slovakia have been halted since Jan. 27 after Ukrainian officials said a Russian drone attack damaged the pipeline that carries crude across Ukrainian territory into Central Europe. Hungary and Slovakia, temporarily exempt from an EU ban on Russian oil, accused Ukraine of deliberately holding up supplies without offering evidence. Foreign Minister Péter Szijjártó called the stoppage "blackmail" and said Hungary would block EU decisions favorable to Ukraine. Hungary suspended diesel shipments to Ukraine and continues to rely on Russian oil and gas.

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