Hungary's Minister for European Affairs, Janos Póka, has warned of potential risks stemming from the European Commission's proposal to use cash reserves linked to frozen Russian assets in Europe as a means to finance a loan directed to Ukraine. He emphasized that such a measure must be carefully considered to avoid any legal ramifications for member states within the European Union.
Póka clarified, in statements made to the press today, Thursday, that the proposed mechanism remains vague, especially regarding how it could be implemented without directly affecting the Russian assets themselves. He pointed out that the President of the European Commission has yet to provide clear details about the nature of the plan or ways to ensure its legality.
The Hungarian minister added that the most important point for Budapest is that this measure meets all legal requirements so that it does not lead to legal crises or judicial disputes that could impose unexpected burdens on member states.
Hungary's position reflects growing caution among some EU countries regarding steps related to the use of frozen Russian assets, especially given the complexities of the legal file associated with them.
These statements come at a time when Brussels continues to seek mechanisms to financially support Ukraine amidst the ongoing war and its economic and political repercussions on Europe. The proposal to utilize frozen Russian reserves remains one of the most contentious files within the European Union, due to its legal and political sensitivities.
