Budapest: Hungary has announced it will block the £90 billion ($106 billion) European Union loan designated for Ukraine until the resumption of oil transit via the Druzhba pipeline. Foreign Minister Peter Szijjarto made this announcement on Friday, stating that the oil transit is crucial for Hungary’s energy supplies.

According to Anadolu Agency, Szijjarto took to the US social media platform X to express Hungary’s stance, accusing Ukraine of blackmail. He alleged that the suspension of oil transit was orchestrated in coordination with Brussels and the Hungarian opposition, aiming to disrupt oil supplies and increase fuel prices ahead of elections in Hungary.

Szijjarto emphasized that Ukraine’s actions contravene the EU-Ukraine Association Agreement, highlighting that they breach commitments made to the European Union. He firmly stated, “We will not give in to this blackmail,” signaling Hungary’s intent to maintain its position until the oil transit situation is resolved.