Budapest Blocks E.U. Financial Aid to Ukraine

The Hungarian government has vetoed an 18-billion-euro (US$18.8 billion) aid loan to Ukraine, reports the Baltic News Network.

Hungary is the only E.U. member state that had not yet approved the spending plan, which requires unanimity.

Lithuanian Economy Minister Aušrine Armonaite accused Hungary of using the aid package as a “bargaining tool” to get the E.U. to grant its budget funds. Brussels has frozen funding for Budapest due to its democratic backsliding and corruption risks.

Hungarian opposition will not stop the aid package. The 26 other member states will form a package without Hungary, but “raising funds will be more complicated and take longer," according to Czech Finance Minister Zbynek Stanjura.