Hungary Threatens to Veto €90 Billion EU Loan to Ukraine Over Oil Dispute

Budapest, February 2026 — Hungary has threatened to block a proposed €90 billion European Union loan package to Ukraine, citing a long-running dispute over Russian oil supplies.
Hungarian officials announced they will exercise their veto right in the EU unless oil flows are restored through the Druzhba pipeline — a Soviet-era oil transit route that carries Russian crude through Ukrainian territory to Hungary and Slovakia.
Budapest argues that Ukraine’s decision to halt transit of Russian oil has severely impacted its energy security and economy. Hungary and Slovakia are among the few EU member states still dependent on this pipeline for a significant portion of their oil imports.
The standoff puts Budapest on a collision course with the rest of the European Union, which has broadly supported financial assistance to Kyiv amid the ongoing conflict with Russia. EU officials and other member states are expected to push back against the Hungarian veto threat.
Ukraine has blocked the Druzhba oil transit citing EU sanctions against the Russian energy firm Lukoil. The move has escalated tensions between Kyiv and Budapest at a time when European unity on Ukraine remains critical.
The €90 billion loan, if passed, would be one of the largest financial assistance packages extended to Ukraine by the EU. Analysts warn that a Hungarian veto could significantly delay or derail the package, undermining Western support for Ukraine.