Orban’s Veto Blocks £75bn Ukraine Loan and New Russia Sanctions
By SCM REPORTER, London, February 23, 2026
VLADIMIR PUTIN’S favorite European leader has sparked a massive “civil war” in Brussels after sensationally blocking a £75 billion (€90bn) rescue loan for war-torn Ukraine.
In a double-blow to the West, Hungary also slapped a veto on the EU’s landmark 20th sanctions package against Russia—just hours before the fourth anniversary of the invasion.
Hungarian Foreign Minister Peter Szijjarto confirmed the “total block,” accusing Ukraine of “blackmailing” Budapest by allegedly tampering with the Druzhba oil pipeline.
The ‘Friendship’ Freeze
The row erupted after Russian oil shipments to Hungary and Slovakia were disrupted following drone strikes on the pipeline—dubbed ‘Friendship’—in Ukrainian territory.
While Kyiv blames Russian attacks for the damage, an enraged Szijjarto claimed Ukraine is deliberately choking the supply to “manipulate” Hungarian fuel prices ahead of the country’s April elections.
”We will not contribute to the adoption of the 20th sanctions package; this will remain so until the Ukrainians restart crude oil deliveries,” Szijjarto fumed on social media.
Kyiv’s Cash Crisis
The vetoed £75 billion loan is a critical lifeline for President Zelenskyy’s forces, who are reportedly set to run out of cash by April. The massive aid package was intended to fund both the Ukrainian military and basic government services for the next two years.
Brussels insiders are reportedly “furious” at the timing of the move. The 20th sanctions package was designed to be a show of unity for the February 24 anniversary, targeting Russia’s “shadow fleet” of tankers and tightening the screws on the Kremlin’s energy profits.
EU foreign policy chief Kaja Kallas admitted that an agreement is now “unlikely” at today’s summit in Brussels.
Hungary and Slovakia have already retaliated by halting diesel exports to Ukraine, leaving the war-weary nation facing a potential energy and financial “black hole” just as Russia intensifies its spring offensive.
Critics in London and Brussels have accused Prime Minister Viktor Orban of acting as a “Trojan Horse” for the Kremlin, using his veto power to protect Russian interests while holding the rest of Europe’s security to ransom.
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