🇭🇺 Hungary has blocked a $50 billion loan to Ukraine until after the U.S. elections. Additionally, Budapest has postponed its decision on extending EU sanctions against Russia

“We believe that the issue of extending Russian sanctions should be decided after the U.S. elections. We need to see the direction the future U.S. administration will take,” said Hungary’s Finance Minister Mihály Varga.

The loan, agreed upon by G7 leaders in June, is to be serviced using frozen Russian assets. The U.S. is demanding guarantees that these assets will not be unfrozen in the future, as the sanctions on them are currently renewed every six months by a unanimous vote of EU member states.

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