No fewer than twenty-two ministers or representatives of European Union Member States stressed the importance of continuing macro-financial assistance to Ukraine in the second half of 2024 under the Hungarian Presidency of the Council of the European Union on Tuesday 16 July, during a debate at the Ecofin Council on the Hungarian government’s political priorities (see EUROPE 13448/10).
The Nordic countries, the Baltic countries, the Mediterranean countries, the countries of Central and Eastern Europe, Germany, France, Ireland and the Netherlands said that the priorities put forward by the Hungarian Presidency did not sufficiently highlight the EU’s support for Ukraine, with the Finnish minister, Riikka Purra, describing this support as “existential” for both Ukraine and the EU.
A number of officials have criticised the initiatives taken by Hungarian Prime Minister Viktor Orbán as part of his ‘mission for peace’, which included a meeting with Russian President Vladimir Putin in Moscow (see EUROPE 13450/5). This meeting in Moscow made me “angry and sad”, declared Swedish Minister, Elisabeth Svantesson, saying that in Moscow, Mr Orbán “did not represent me”. The French Director of the Treasury, Bertrand Dumont, stressed that “the principle of unity of action (should) prevail over diplomatic solos”. “Hungary had no mandate to meet Mr Putin on behalf of the EU”, said Dutch Minister Eelco Heinen.
The Hungarian Finance Minister, Mihály Varga, has given assurances that his country’s desire for regular discussions on the socio-economic impact of Russia’s military aggression against Ukraine includes work on a new EU loan to Ukraine from 2025, which would be secured, as the G7 countries have decided, on the future profits generated by the Bank of Russia’s frozen assets (see EUROPE 13442/1). “We’re prepared to advance the works promptly as soon as these proposals are adopted by the Commission”, he commented.
The EU institution is expected to unveil its project by the end of July. The European Commissioner for Economic Affairs, Paolo Gentiloni, noted that discussions on new loans to Ukraine would continue at the G7 Finance Summit, to be held on the sidelines of the G20 Finance Summit (25-27 July in Rio de Janeiro). In September, the IMF will present updated figures on Ukraine’s financing needs.
As a result of Mr Orbán’s ‘mission for peace’, the Commission has decided to be represented only at Director-General level at the informal ministerial meetings of the Hungarian Presidency of the EU Council (see EUROPE 13453/8). (Original version in French by Mathieu Bion)