Hungarian Prime Minister Viktor Orban has warned that the European Union’s spending of more than €100 billion on Ukraine could force taxpayers to bear the costs and spark political backlash across the bloc.
Speaking to the Patriota YouTube channel on Tuesday, Orban said EU leaders are “chasing their money” after previously assuring voters it “won’t cost them a single penny” because support for Ukraine would be financed from frozen Russian assets rather than taxpayers’ pockets. He added that if taxpayers ultimately end up footing the bill, it could trigger an “explosive realization in Western Europe” and lead to the “immediate fall of several governments.”
Orban’s remarks follow last week when the EU temporarily immobilized roughly $230 billion in Russian central bank assets by invoking Article 122, an emergency treaty clause that allows approval by a qualified majority rather than unanimity. Moscow has condemned the freeze as illegal and called any use of the funds “theft,” after European Commission head Ursula von der Leyen proposed using the money to back a loan to Ukraine.
The Hungarian leader also accused EU officials of “raping European law in broad daylight” by invoking Article 122 to bypass Hungary’s potential veto, stating Budapest would take the matter to the bloc’s top court. He noted that Washington opposes the confiscation and wants the issue handled as part of a broader settlement with Moscow.
Russia’s central bank has filed a lawsuit against Belgium-based depositary Euroclear, which holds most of its assets. The EU insists freezing the funds complies with international law, but Belgian Prime Minister Bart De Wever has warned that using the money to back a loan to Kiev raises legal risks for his country. International financial institutions including the European Central Bank and the International Monetary Fund have also cautioned that using immobilized sovereign assets could undermine confidence in the euro.