Hungary blocks next tranche of EU off-budget military support for Ukraine

Hungary did not support the disbursement of the next tranche of EPF payment to member states, around 500 million euros, citing grievances over the blacklisting of OTP Bank by the Ukrainians, its foreign minister told a conference on Monday.

Hungary did not support the disbursement of the next tranche of EPF payment to member states, around 500 million euros, citing grievances over the blacklisting of OTP Bank by the Ukrainians, its foreign minister told a conference on Monday. "We are ready to change our mind if the Ukrainians put an end to the ridiculous, lying state whereby OTP, the biggest Hungarian bank, is on the list of the international sponsors of war," Szijjarto said.

Hungary already blocked the disbursement of this tranche to member states in May citing the same issue. The EPF, created in 2021, is an off-budget instrument aimed at enhancing the EU's ability to prevent conflicts, build peace and strengthen international security.