Last Friday, EU Council President Antonio Costa said that the EU would provide Ukraine with a 90 billion euro ($105 billion) loan, based on the EU budget and potentially repayable using frozen Russian assets. Hungary, Slovakia and the Czech Republic declined to participate in guaranteeing the EU's loan to Ukraine.
"The West claimed that this war would not cost the population money because it would be paid for from Russian assets. But now it turns out that is not true. And I think that in the near future, public opinion among those in Western European countries who do not want this will become increasingly vocal. Already now, in the case of Germany, France and other countries, it seems that those opposed to the war outnumber those who support it," Orban told the TV2 broadcaster on Monday.
The commitment of all EU countries, except Hungary, the Czech Republic and Slovakia, to take out a common loan for Ukraine and repay it could lead to a turning point in public opinion in Western European countries, the prime minister said.
Following the start of Russia's military operation in Ukraine in 2022, the EU and the G7 nations froze nearly half of Russia's foreign currency reserves, totaling approximately 300 billion euros. Around 200 billion euros are held in European accounts, predominantly in the Belgium-based securities depository Euroclear. The EU Commission had been seeking approval from EU member states to use frozen Russian assets to finance Ukraine's war efforts.
Russian President Vladimir Putin called the idea of seizing Russian assets robbery and warned that it would erode confidence in the eurozone.