Hungary will not support EU plans to use frozen assets of the Russian Federation
Hungary will not support the European Union's (EU) plans to use the proceeds from frozen Russian assets if Russia's retaliatory measures affect Hungarian companies operating in the Russian market. Consultations on this issue are already underway between Budapest and Moscow. This was stated on October 15 by Hungarian Prime Minister Viktor Orban in an interview published on the Mandiner YouTube channel.
"As for the frozen Russian assets, we are consulting with Russia, and I want to understand the situation clearly. Obviously, if Russian money gets its hands on it, it will create a lot of legal problems, and there will be Russian retaliatory measures. I want to see what these measures will be," Orban explained.
The Hungarian prime minister clarified that Budapest needs to assess potential risks in advance — whether the property of Hungarian companies in Russia can be seized or frozen as a retaliatory measure if Hungary supports the EU initiative at the upcoming summit.
"This needs to be clarified, this is the responsibility that the Hungarian government bears to the country, and it requires understanding the consequences of each step," the Prime Minister stressed.
According to Orban, an open discussion of these issues with the Russian side is already underway so that the Hungarian government can make an informed decision, taking into account all possible consequences.
Earlier, on October 7, the president of the European Central Bank (ECB), Christine Lagarde, called for a decision on the frozen assets of the Russian Federation. It clarifies that, since direct confiscation of assets is impossible by law, the bloc plans to invest these funds through coupon–free bonds issued by the European Commission (EC) under guarantees from EU member states.
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