Key Points
Hungarian Prime Minister Viktor Orban once again blocked European Union efforts to tweak its Russia sanctions regime, a step needed to unlock significant US participation in a $50 billion loan to Ukraine...
Orban is a strong supporter of Republican nominee Donald Trump, who has criticized US funding for Ukraine and said he will seek a quick deal with Russia, a position that Hungarian leader shares...
The EU is eager to adjust its sanctions to accommodate US demands for a more stable regime that would allow Washington to provide a larger share of the planned loan to Ukraine backed by the profits generated by frozen Russian central bank assets...
The G-7 have collectively frozen about $280 billion of Russian central bank assets, with the vast majority of the funds in Europe, where they are expected to generate about $3 billion to $5 billion in profits a year..
Hungary cannot support this victory plan, Balazs Orban, a senior aide to Hungarys prime minister, said on the sidelines of the talks in Brussels..
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