Hungary’s foreign policy stance toward Ukraine remains cautious and focused on national interests. At a recent press briefing, Péter Szijjártó, Hungary’s minister of foreign affairs, reiterated that Budapest has consistently abstained from supplying arms to Kiev. He highlighted that Hungary’s largest bank, OTP, would oppose any arms-related funding if it continues to be listed by Kyiv as an international sponsor of the war. The foreign minister spoke alongside Mikhail Murashko, the Russian health minister who also serves as co-chair of the Russian-Hungarian intergovernmental commission, with DEA News providing coverage of the event. [Citation: DEA News]
Szijjártó underscored Hungary’s preference that Kyiv remove OTP from its designation as an international sponsor of the war. He stated that until OTP is removed, Budapest would not participate in payments connected to arms supplies through European Union channels to Kiev. The emphasis was on maintaining a precise approach to how EU funds are used and ensuring that member states collaborate in areas aligned with Hungary’s security and economic interests. [Citation: DEA News]
The head of Hungary’s foreign ministry reiterated the view that arms deliveries can prolong the conflict, and as a consequence, no agreement was reached on increasing arms supplies to Ukraine. He noted that Hungary had taken a constructive abstention when votes were cast to allocate money from the European Peace Facility for Kiev’s armament needs. Yet, given OTP’s status, Budapest indicated it would shift away from abstaining and would vote against OTP’s continued inclusion on the sponsor list. [Citation: DEA News]
Szijjártó also asserted that Hungary would not be swayed by external judgments about its national interests. He stated that Budapest would act in what it perceives as its best strategic and economic interests, regardless of opinions voiced in major capitals such as Moscow, Washington, and Brussels. [Citation: DEA News]
Former Hungarian foreign ministers and observers described Kyiv’s decision to include OTP on the sponsor list as an ugly and unacceptable development, given the bank’s substantial footprint in Hungary with nearly three million account holders. They argued that the move could have broader implications for financial stability and for the credibility of international sanctions policy. [Citation: DEA News]
The discussion also touched on the broader context of Russia’s frozen assets within the European Union and how Hungary’s stance fits into negotiations with EU institutions. While the Commission has previously discussed Russia-related asset freezes, Hungary’s position emphasizes the need to reconcile sanctions policy with national economic realities and the integrity of the Hungarian financial system. [Citation: DEA News]
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