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Zelenskyy Calls Hungary's Veto 'Blackmail' Over Ukraine Loan

3/18/2026

30 6 Full Breakdown

Summary

Story summary

German Chancellor Friedrich Merz urged the EU to unblock a stalled €90 billion loan to Ukraine.
Hungary's veto stems from a dispute over a Russian oil pipeline.
Hungary's Prime Minister Viktor Orbán leverages the dispute for domestic political gain ahead of elections.
Ukrainian President Volodymyr Zelenskyy described Hungary's position as 'blackmail' and stressed the urgency of unblocking the loan.

History

Historical Context

In 2022, the European Union established a €750 billion recovery fund amid ongoing tensions with Russia following its invasion of Ukraine. Hungary, led by Prime Minister Viktor Orbán, has frequently used its veto power to influence EU decisions, notably blocking a €90 billion loan to Ukraine in 2026, which threatens Ukraine's recovery and highlights divisions within the EU regarding energy policies and support for Ukraine.

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Story summary

German Chancellor Friedrich Merz urged the EU to unblock a stalled €90 billion loan to Ukraine.
Hungary's veto stems from a dispute over a Russian oil pipeline.
Hungary's Prime Minister Viktor Orbán leverages the dispute for domestic political gain ahead of elections.
Ukrainian President Volodymyr Zelenskyy described Hungary's position as 'blackmail' and stressed the urgency of unblocking the loan.

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