Hungary to block Eurean Commission’s offer to give Ukraine profits off frozen Russian assets

That’s according to a high-ranking Eurean diplomat, who spoke with DW on condition of anonymity, Ukrinform reports.

"The Eurean Commission's prosal to confiscate profits from frozen Russian assets to support Ukraine is unlikely to be approved at the summit of EU leaders, which will begin in Brussels on Thursday, March 21," the diplomat said.

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According to the source, there is a common understanding among the majority of EU member states that the seized funds should be used for the purchase of weapons and ammunition for the Armed Forces of Ukraine. "Now Ukraine needs more money for weapons, and, unfortunately, not for recovery. And we strive to do everything to avoid further destruction in Ukraine," the source explained.

The prosal put forward by the Eurean Commission suggests that 90% of the profits derived from frozen Russian assets be used to procure weapons for Ukraine.

However, DW's interlocutor said Hungary poses the move. Authorities in Budapest believe these funds could be used for anything but weapons for Ukraine.

As reported, on March 21-22, Brussels is hosting an EU Council. One of the main issues on the agenda is continued military aid to Ukraine, strengthening EU security and defense, as well as increasing the capacity of the Eurean defense industry.