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EU's Costa urges Hungary's Orban to respect 90 billion euro loan deal for Ukraine, letter shows

Published by Global Banking & Finance Review®

Posted on February 23, 2026

1 min read

Last updated: February 23, 2026

EU's Costa urges Hungary's Orban to respect 90 billion euro loan deal for Ukraine, letter shows - Finance news and analysis from Global Banking & Finance Review

Tags:European Union policy

Quick Summary

EU Council chief António Costa urged Hungary’s Viktor Orbán to honor an EU-approved €90bn loan for Ukraine. Hungary links approval to resuming Russian oil flows via the Druzhba pipeline.

EU chief Costa urges Orban to honor €90bn Ukraine loan, letter says

EU Loan Deal and Hungary’s Response

BRUSSELS, Feb 23 (Reuters) - European Council President Antonio Costa on Monday urged Hungarian Prime Minister Viktor Orban to honour an EU deal for a 90 billion euro ($106.11 billion) loan to Ukraine, after Budapest said it would block the plan until Russian oil flows again through the Druzhba pipeline that traverses Ukraine.

Costa cites sincere cooperation

"When leaders reach a consensus, they are bound by their decision. Any breach of this commitment constitutes a violationof the principle of sincere cooperation," Costa, who chairs summits of EU leaders, said in a letter to Orban seen by Reuters.

Warning against undermining EU decisions

"No Member State can be allowed to undermine the credibility of decisions taken collectively by the European Council," Costa wrote, referring to the loan, which was approved by EU leaders at a summit in December.

Conversion used: $1 = €0.8482

Loan value and exchange rate note

($1 = 0.8482 euros)

(Reporting by Andrew Gray, editing by Inti Landauro)

Key Takeaways

•European Council President António Costa urged Viktor Orbán to respect the EU’s €90bn Ukraine loan deal.
•Hungary says it will block the package until Russian oil resumes through the Druzhba pipeline.
•Costa cited the EU’s principle of sincere cooperation and collective decision-making.
•The loan was approved by EU leaders at a December summit.
•Budapest’s stance raises concerns over EU unity and Ukraine financing.

Frequently Asked Questions about EU's Costa urges Hungary's Orban to respect 90 billion euro loan deal for Ukraine, letter shows

1What is the main topic?

António Costa urged Hungary’s Viktor Orbán to honor an EU-approved €90bn loan for Ukraine, warning that blocking it undermines agreed European Council decisions.

2Why is Hungary blocking the loan?

Budapest says it will withhold approval until Russian oil flows resume through the Druzhba pipeline crossing Ukraine, tying the loan to energy transit.

3What did Costa emphasize in his letter?

He referenced the EU principle of sincere cooperation, stressing that leaders must uphold collectively agreed decisions and not erode the Council’s credibility.

EU Loan Deal and Hungary’s Response

Costa cites sincere cooperation

Warning against undermining EU decisions

Conversion used: $1 = €0.8482

Loan value and exchange rate note

($1 = 0.8482 euros)

(Reporting by Andrew Gray, editing by Inti Landauro)

Key Takeaways

•European Council President António Costa urged Viktor Orbán to respect the EU’s €90bn Ukraine loan deal.

•Hungary says it will block the package until Russian oil resumes through the Druzhba pipeline.

•Costa cited the EU’s principle of sincere cooperation and collective decision-making.

•The loan was approved by EU leaders at a December summit.

•Budapest’s stance raises concerns over EU unity and Ukraine financing.

Frequently Asked Questions

1What is the main topic?

António Costa urged Hungary’s Viktor Orbán to honor an EU-approved €90bn loan for Ukraine, warning that blocking it undermines agreed European Council decisions.

2Why is Hungary blocking the loan?

Budapest says it will withhold approval until Russian oil flows resume through the Druzhba pipeline crossing Ukraine, tying the loan to energy transit.

3What did Costa emphasize in his letter?

He referenced the EU principle of sincere cooperation, stressing that leaders must uphold collectively agreed decisions and not erode the Council’s credibility.