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    1. Home
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    3. >Hungary to block loan for Ukraine, sanctions until Druzhba restarts, minister says
    Finance

    Hungary to block loan for Ukraine, sanctions until druzhba restarts, minister says

    Published by Global Banking & Finance Review®

    Posted on March 16, 2026

    1 min read

    Last updated: March 16, 2026

    Hungary to block loan for Ukraine, sanctions until Druzhba restarts, minister says - Finance news and analysis from Global Banking & Finance Review
    Tags:FinanceBankingMarkets

    Quick Summary

    Hungary’s foreign minister reiterated on March 16 that Hungary will continue blocking a €90 billion EU loan and new sanctions on Russia as long as oil flows via the Druzhba pipeline remain suspended, deepening a weeks‑long energy and political standoff with Kyiv.

    Hungary Blocks Ukraine Loan, Sanctions Over Druzhba Pipeline Suspension

    Hungary's Stance on Ukraine Loan and Russian Sanctions

    Background of the Druzhba Pipeline Suspension

    BUDAPEST, March 16 (Reuters) - Hungary will continue blocking a 90-billion-euro ($103 billion) loan for Ukraine and new sanctions on Russia as long as oil flows via the Druzhba pipeline remain suspended, Hungary's Foreign Minister Peter Szijjarto said on Monday in Brussels.

    Details of the Pipeline Outage

    Russian oil flows through the Druzhba pipeline to Hungary and Slovakia have been suspended since late January. Kyiv says a Russian strike hit Druzhba pipeline equipment in western Ukraine, while Slovakia and Hungary say Ukraine is to blame for the prolonged outage.

    Currency Exchange Rate

    ($1 = 0.8737 euros)

    Reporting Credit

    (Reporting by Anita Komuves)

    References

    • Hungary and Slovakia halt diesel exports to Ukraine amid oil transit dispute | Euronews
    • Druzhba pipeline
    • As promised: Hungary blocked the 20th package of sanctions against Russia — EADaily, February 23rd, 2026 — Politics, Russia
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    Table of Contents

    • Hungary's Stance on Ukraine Loan and Russian Sanctions
    • Background of the Druzhba Pipeline Suspension
    • Details of the Pipeline Outage
    • Currency Exchange Rate
    • Reporting Credit

    Key Takeaways

    • •Hungary and Slovakia have halted diesel exports to Ukraine and threatened further countermeasures amid the Druzhba pipeline suspension, accusing Ukraine of political motives rather than technical issues; Ukraine blames Russian attacks for the outage. (euronews.com)
    • •The Druzhba pipeline was damaged by a Russian drone or air strike on January 27, 2026, disrupting vital oil transit to Hungary and Slovakia, both EU members still reliant on Russian crude. (en.wikipedia.org)
    • •Hungary has also blocked the EU’s 20th sanctions package against Russia, leveraging its veto to press Kyiv to restore oil deliveries—and Slovakia joined in blocking sanctions and threatening power cuts. (eadaily.com)

    Frequently Asked Questions about Hungary to block loan for Ukraine, sanctions until Druzhba restarts, minister says

    1Why is Hungary blocking the loan for Ukraine?

    Hungary is blocking the 90-billion-euro loan for Ukraine due to the suspension of oil flows through the Druzhba pipeline.

    2What has caused the suspension of the Druzhba pipeline?

    The suspension is attributed to a Russian strike hitting pipeline equipment in western Ukraine, though Hungary and Slovakia blame Ukraine for the outage.

    3How long have Russian oil flows through the Druzhba pipeline been suspended?

    Russian oil flows through the Druzhba pipeline to Hungary and Slovakia have been suspended since late January.

    4What actions will Hungary take regarding sanctions on Russia?

    Hungary will continue to block new EU sanctions on Russia as long as the Druzhba pipeline remains non-operational.

    5Who reported the statement from Hungary's foreign minister?

    The statement was reported by Anita Komuves in Brussels.

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