TFIGlobal
TFIGlobal
TFIPOST English
TFIPOST हिन्दी
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
No Result
View All Result
TFIGlobal
TFIGlobal
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

Hungary and Italy will not spend even a single penny on Ukraine’s “rebuilding”

Ansh Pandey by Ansh Pandey
November 9, 2022
in Europe, Geopolitics
EU solidarity fund
Share on FacebookShare on X

EU solidarity fund: Ursula Von Der Leyen is pulling out all the stops to make sure that Ukraine continues to remain in battle with Russia. If one remembers, back in April, the European Union had started preparations for a solidarity trust fund for Ukraine. 

The goal of the EU solidarity fund was to assist Ukraine with its financial requirements as well as its restoration efforts. The G7 nations overwhelmingly supported the idea, but several member states of the EU were enraged by it.

Also Read

Putin’s show of strength, as global leaders gather for Victory Day Parade

EU and UK meet up for an annual summit to discuss ties

Romania Elections: Pro EU Prime Minister resigns as Georgescu backed candidate eyes Presidency

Though, that the plan is still in place, one member state has publicly rejected the EU’s new initiative to assist Ukraine, while a second is entering hot waters. The desire of Ukraine to continue surviving at the behest of the EU may run into a fresh blockade.

According to media reports, Hungary has announced that Budapest won’t back European Union efforts to aid Ukraine with jointly raised funds. Foreign Minister Peter Szijjarto has announced as the EU continues to stay at loggerheads with Hungary. 

According to Szijjarto, Hungary has done enough in supporting Kyiv on a bilateral basis and will continue to do so. But, Budapest opposes any arrangements involving co-financing with other EU member states. 

Reportedly, the EU had proposed a new €18 billion ($18 billion) aid package for Ukraine for 2023. The plan was poised to use the EU’s budget as a guarantee to raise the funds for Kyiv, a step that involves changes to the bloc’s rules that require the unanimous backing of its 27 member states. 

However, Hungary has singlehandedly crushed the EU’s ambition.

No money for Zelensky

On the question of why Hungary is against helping Ukraine with a joint EU solidarity fund, Peter Szijjártó said,  “We have done it once. We supported joint borrowing during the coronavirus epidemic, and that was more than enough,” 

Hungary had previously supported the EU’s decision to jointly raise debt to finance the bloc’s recovery from the Covid-19 pandemic but has yet to receive its share of the funds. This is why Hungary is pessimistic about falling into the EU’s trap again. 

Even though Hungary has always opposed EU involvement in the war in Ukraine, and Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban are regarded as close friends, Hungary has eventually opted to help Ukraine on several occasions. 

But without the backing of Hungary, the proposed €18 billion ($18 billion) aid package for Ukraine would fail to take shape. 

Read More: Zelensky sold arms and weapons worth billions to criminal gangs wreaking havoc on Europe 

Orban won elections, Hungary is a democracy - Meloni - English - ANSA.it
Source: ANSA

Italy might back off 

Additionally, it appears that even Italy might reject the EU’s new proposal to assist Ukraine, as Italians are protesting against aiding Ukraine.  

Last week, tens of thousands of Italians marched through Rome, demanding an end to arms shipments to Ukraine and a ceasefire. Furthermore, Italy’s new PM, Giorgia Meloni, is also expected to succumb to this rising pressure, as her own conservative allies are against helping Ukraine. 

She has definitely chastised Russian aggression in Ukraine, but has she always been Anti-Russia? Absolutely not. Meloni was one of the few Italian politicians to congratulate Russian President Vladimir Putin on his re-election in 2018.

Furthermore, she has openly lambasted Ursula Von Der Leyen and the EU for their failure to curb illegal migration. One could easily understand that she is emphasizing a more pragmatic approach toward the EU.

Now, given the rising anti-Ukraine attitude in Italy, Meloni would get a perfect excuse to move away from Brussels’ collective effort in Ukraine. 

Read More: Ukraine now demands $5 billion monthly compensation from Europe for starting the war

The denial of Rome and Budapest could only be the beginning. Structuring an $18 billion fund would be an extremely difficult task for members’ states’ own inner strife with Brussels.

Zelensky wanted the European Union to cough up $5 billion every month, and this new EU solidarity fund was exactly the start of it. However, with Hungary’s denial and Italy’s shifting momentum, Zelensky’s dream to keep Ukraine afloat is again up against the wall.

Tags: EUHungaryItalyRussiaUkraine
ShareTweetSend
Ansh Pandey

Ansh Pandey

Associate Editor, tfiglobalnews.com

Also Read

Poland’s upcoming Presidential elections will swing towards EU or Russia?

Poland’s upcoming Presidential elections will swing towards EU or Russia?

May 9, 2025
Why U.S. Should Not Sell Its Military Technology to Pakistan?

Why U.S. Should Not Sell Its Military Technology to Pakistan?

May 9, 2025
Why the UK-US Trade Deal Isn’t What It Seems

Why the UK-US Trade Deal Isn’t What It Seems

May 9, 2025
Global Reactions to India’s Operation Sindoor

Global Reactions to India’s Operation Sindoor

May 9, 2025
India’s S-400 System Downs Pakistani F-16 and JF-17 Jets

India’s S-400 shoot down Pakistani F-16 Fighter jet

May 8, 2025
‘Rocketman’ Kim Jong Un, unleashes ballistic missile barrage into the sea of Japan

‘Rocketman’ Kim Jong Un, unleashes ballistic missile barrage into the sea of Japan

May 8, 2025
Youtube Twitter Facebook
TFIGlobalTFIGlobal
Right Arm. Round the World. FAST.
  • About Us
  • Contact Us
  • TFIPOST – English
  • TFIPOST हिन्दी
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy

©2025 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIPOST English
TFIPOST हिन्दी

©2025 - TFI MEDIA PRIVATE LIMITED

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.