Link to article: https://euromaidanpress.com/2026/02/23/hungary-blocks-eu-loan-sanctions-ukraine-imf-domino/
Hungary has now vetoed the EU’s 20th sanction package combating Russian aggression and the have also blocked a $106 billion dollar loan to Ukraine. This makes a stark shift of their supposed position from December where Hungary vowed to not interfere with the aid loan. This change in decision will lead to Ukraine needing to spend all of its tax dollars on defense and will be 100% reliant on other states to pay for public necessities. This all comes as the Russian oil pipelines that run through Ukraine have been destroyed, putting pressure on the Hungarians and the Slovakians. European leaders like the PM of Poland say that this is all a hoax to try and get a “win” for Hungary as their elections are coming up.
I think that this deeply ties in with realism. I could sit here and condem Hungary for what they are doing because it is unjust. However, the Hungarian head of state has a duty to his people only, not the Ukrainians and certainly not the French and Germans. So if the oil is not flowing, regardless of who is at fault, steps have to be taken in order to get that vital supply of money for the Hungarian economy back into play. Additionally this deal could make a massive hole in what has been seemingly untouched European financial unity over these past 2-3 years, this could lead to a slippery slope where relations continue to spiral downward after Hungary has asserted that its interests go before the rest of the EU’s.
The first stakeholder is Hungary, they will most likely, unless forced by other more powerful states, maintain their course of trying to get the oil pipeline back and flowing as it was before the supposed drone strike. They need this oil to flow no matter the cost. Ukraine would be the next, Ukraine will most likely have to fix the pipeline seeing as if they don’t their economic situation will go from bad to pretty much unrecoverable. If they lost the sovereignty of their own pension system, not much will be left between them and corporations/Powerful states looking to capitalize. Lastly, the rest of the EU will most likely, firstly, condemn the actions of Hungary and if these actions continue trade relations may begin to suffer. This could be instrumental in the change of Hungarian policy seeing as if there is no one to buy the oil there is no purpose in fighting to make it.
Lastly, I can see the concepts of realism and power shown in this situation. The power that the Eu holds to possibly change the minds of the Hungarians surely will come into play. Additionally, Hungary has to look out for themselves first rather than trying to be a good neighbor in Europe, Realism.