“Yesterday, the European Council held a meeting under unusually tense circumstances, dealing with the most difficult question imaginable. It wasn’t really a political consultation—it was a war council,” he said. “Looking back on the discussions, I have to say 90% of the contributions were about how we can defeat Russia—not how the Ukrainians can win, but how we can beat Russia. The remaining 10% came from the Czechs, Slovaks, and Hungarians, who spoke about how to achieve peace. That’s where we stand”.
One of the most immediate threats discussed was the potential confiscation of €210–230 billion in frozen Russian assets to fund Ukraine. According to Prime Minister Orbán, this would have effectively made the EU a participant in the war. “If a third party in a war takes money from one side and gives it to the other, that’s not financial assistance. That’s a declaration of war,” he warned. Hungary also holds significant foreign reserves in Western institutions and, had the asset seizure gone ahead, would have had to consider relocating those reserves.
The plan collapsed due to Belgian Prime Minister Bart De Wever, who refused to take on the risk that Belgium—home to most of the frozen funds—could face financial ruin if Russia sued and won in international court. PM Orbán credited him with blocking the proposal, calling it a moment of political courage.
The summit also approved a €90 billion EU loan to Ukraine, to be financed by borrowing from markets. Prime Minister Orbán called this a “war loan” and warned of long-term consequences. “When it becomes clear that Ukraine cannot pay, and the EU has to step in, it will be the member states who must cover both principal and interest. But we won’t take part,” he said. “It will be an interesting mathematical exercise to calculate how much of a burden we are avoiding now by opting out,” he added. “It’s a long-term loan that future generations—our children and grandchildren—would have had to repay. What’s happening here is the mortgaging of Europe’s future. And we stayed out of it”.
The prime minister was clear: “Those who approved this war loan have set the European Union on a course that requires Russia to be defeated. This is no longer just politics or geopolitics—it’s about money. If they don’t beat Russia, they’ll have to pay. A new factor has entered the war environment. Previously, financial interests were only in the background—now, they are central. From now on, they’re chasing their money. That’s what puts the entire European Union on a war track”.
Prime Minister Orbán concluded with a stark prediction: “In the coming weeks, the reality will hit hard. European citizens will realize that they are the ones who will pay the price for their leaders’ failed decisions. Their parliaments will debate it. The numbers will emerge. And then it will become clear—they will pay, like soldiers at a post. This is a decisive moment for the continuation of the war”.