Hungary blocked the EU's ‘plan B’ for financing Ukraine

According to Politico, citing two diplomats, Budapest opposed the issuance of pan-European bonds worth €90 billion to help Ukraine.

Hungary's refusal means that the EU currently has no other plan to provide financial assistance to Ukraine next year except for the proposal to use russian assets. However, Belgium, where the Euroclear clearing centre is located and where most of russia's funds are frozen, does not agree with this proposal in its current form.

Brussels fears that russia will seek the return of its assets from Belgium specifically, rather than from the EU as a whole.

Source: Radio Liberty, Politico