Published by Global Banking & Finance Review®
Posted on March 7, 2025
2 min readLast updated: January 25, 2026
Add as preferred source on Google
Hungary's Orban warns EU against financing Ukraine's war, citing economic harm. He suggests supporting Trump's peace talks and questions EU defense funding without US aid.
BUDAPEST (Reuters) - The EU cannot afford to finance Ukraine's military efforts as U.S. financial aid is no longer guaranteed, Hungarian Prime Minister Viktor Orban said on Friday after the leaders of 26 EU countries signed a statement voicing support for Ukraine without Hungary.
Orban, an ally of U.S. President Donald Trump, who is also cultivating ties with Moscow, told state radio that his government would launch a domestic "public consultation" on Ukraine's European Union accession in the coming weeks.
The state-funded political campaign will come as Orban, in power since 2010, faces elections in 2026 with the economy just clambering out of an inflation crisis and with a surging new opposition party posing the strongest challenge yet to his rule.
European leaders on Thursday backed plans to spend more on defence and continue to stand by Ukraine in a world upended by Donald Trump's reversal of U.S. policies.
The European Union's defence summit in Brussels took place amid fears that Russia, emboldened by its war in Ukraine, may attack an EU country next and that Europe can no longer rely on the U.S. to come to its aid.
But Orban, who has refused to send weapons to Ukraine since the start of the war, and kept close relations with Moscow, said that instead of prolonging the war, Europe should support Trump's peace talks.
He said the way the EU wants to support Ukraine now, while also boosting Europe's own defence spending, would "ruin Europe."
"If now the US quits (financing the war)...why would the other 26 member states have a chance to take this war to the end?," Orban told state radio. "Today it appears that I have vetoed. But within weeks they will come back and it will turn out that there is no money for these goals."
Trump has said Europe must take more responsibility for its security. On Thursday he cast doubt on his willingness to defend Washington's NATO allies, saying that he would not do so if they are not paying enough for their own defense.
His decision to shift from staunch U.S. support for Ukraine to a more conciliatory stance towards Moscow has deeply alarmed Europeans who see Russia as the biggest threat.
(Reporting by Krisztina Than; Editing by Christian Schmollinger and Toby Chopra)
Orban stated that the EU cannot afford to finance Ukraine's military efforts, especially as U.S. financial aid is no longer guaranteed.
Orban has refused to send weapons to Ukraine since the start of the war and has maintained close relations with Moscow.
He suggested that Europe should support Trump's peace talks rather than prolonging the conflict through financial support.
Orban warned that the EU's approach to support Ukraine while increasing its own defense spending could 'ruin Europe.'
Trump's shift from strong U.S. support for Ukraine to a more conciliatory approach towards Moscow has alarmed European leaders who view Russia as a significant threat.
Explore more articles in the Headlines category
