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Hungary to block EUR 90 billion loan to Ukraine over oil stoppage, minister says

Published by Global Banking & Finance Review®

Posted on February 20, 2026

1 min read

Last updated: February 20, 2026

Hungary to block EUR 90 billion loan to Ukraine over oil stoppage, minister says - Finance news and analysis from Global Banking & Finance Review

Tags:European Union

Quick Summary

Hungary will veto a €90bn EU loan to Ukraine until Druzhba pipeline oil flows to Hungary resume. FM Péter Szijjártó says Ukraine breaches the EU-Ukraine pact by halting transit.

Hungary to veto €90bn EU loan for Ukraine until Druzhba oil flows resume

Hungary’s Veto and Druzhba Oil Transit Dispute

WARSAW, Feb 20 (Reuters) - Hungary will block a 90 billion euro European Union loan for Ukraine until oil transit to Hungary via the Druzhba pipeline resumes, Foreign Minister Peter Szijjarto said on Friday.

Condition for Lifting the Loan Block

Szijjártó’s Rationale and Claims

"By blocking oil transit to Hungary through the Druzhba pipeline, Ukraine violates the EU-Ukraine Association Agreement, breaching its commitments to the European Union. We will not give in to this blackmail," Szijjarto said on X.

Reporting and Attribution

(Reporting by Anna Wlodarczak-Semczuk and Gergely Szakacs; Editing by Philippa Fletcher)

Key Takeaways

•Hungary will block a €90bn EU loan to Ukraine until oil transit via the Druzhba pipeline to Hungary resumes.
•Foreign Minister Péter Szijjártó alleges Ukraine is violating the EU-Ukraine Association Agreement.
•The minister called the halt to oil flows 'blackmail' in a post on X.
•The stance links Hungary’s support for EU financing to restoration of Druzhba pipeline shipments.
•Move raises concerns over Ukraine financing timelines and EU unity on support.

Frequently Asked Questions about Hungary to block EUR 90 billion loan to Ukraine over oil stoppage, minister says

1What is the main topic?

Hungary says it will block a €90bn EU loan to Ukraine until oil transit to Hungary via the Druzhba pipeline resumes, linking EU financing to energy flows.

2Why is Hungary threatening a veto?

Foreign Minister Péter Szijjártó argues Ukraine halted Druzhba pipeline flows, breaching the EU‑Ukraine Association Agreement, and calls the move political blackmail.

3What is the Druzhba pipeline?

Druzhba is a major pipeline carrying Russian crude through Ukraine to EU states, including Hungary. A stoppage affects Hungary’s supply and is central to this dispute.

Hungary’s Veto and Druzhba Oil Transit Dispute

Condition for Lifting the Loan Block

Szijjártó’s Rationale and Claims

Reporting and Attribution

(Reporting by Anna Wlodarczak-Semczuk and Gergely Szakacs; Editing by Philippa Fletcher)

Key Takeaways

•Hungary will block a €90bn EU loan to Ukraine until oil transit via the Druzhba pipeline to Hungary resumes.

•Foreign Minister Péter Szijjártó alleges Ukraine is violating the EU-Ukraine Association Agreement.

•The minister called the halt to oil flows 'blackmail' in a post on X.

•The stance links Hungary’s support for EU financing to restoration of Druzhba pipeline shipments.

•Move raises concerns over Ukraine financing timelines and EU unity on support.

Frequently Asked Questions

1What is the main topic?

Hungary says it will block a €90bn EU loan to Ukraine until oil transit to Hungary via the Druzhba pipeline resumes, linking EU financing to energy flows.

2Why is Hungary threatening a veto?

Foreign Minister Péter Szijjártó argues Ukraine halted Druzhba pipeline flows, breaching the EU‑Ukraine Association Agreement, and calls the move political blackmail.

3What is the Druzhba pipeline?

Druzhba is a major pipeline carrying Russian crude through Ukraine to EU states, including Hungary. A stoppage affects Hungary’s supply and is central to this dispute.