The reason for the obstruction was the €7.5 billion in grants from Brussels that Hungary appeared to be losing. The European Commission threatened to do so because, according to them, the rule of law in Hungary has been so badly affected that the money would go to the wrong place.
The Hungarian government is in desperate need of cash to prop up the struggling economy. In an attempt to receive the billions, Prime Minister Viktor Orbán has therefore obstructed a European aid package for Ukraine and a minimum rate for the tax on profits in recent weeks.
After lengthy negotiations, an agreement in principle was reached. It was agreed that the EU will not keep €7.5 billion in subsidies, but €6.3 billion. In return, the Orbán government has agreed to finance an 18 billion euro support package for Ukraine. The agreement has yet to be officially signed, but according to the interested parties it is only a formality.
Approval was also given for an additional €5.8 billion from the European krone recovery fund for Hungary. The country has been waiting for this amount for a year and a half, and will receive the money if the 27 conditions that the committee has placed on the aid are met. In this way, the European Commission wants Budapest to restore its eroded rule of law.
