Hungary sues EU over frozen Russian assets for Ukraine

 Hungary has filed a lawsuit at the EU Court of Justice challenging a decision to use frozen Russian assets to finance military aid to Ukraine, Portfolio reported.

The case, lodged in July, was admitted on Aug. 25. Budapest is contesting a May 2024 EU Council decision to channel nearly all proceeds from Russian assets into the European Peace Facility, which reimburses member states for arms supplies to Kyiv.

Hungarian officials said the move was made without their consent, violating decision-making procedures.

Since the start of the war, Western countries have frozen over €260 billion of Russian assets, with about €190 billion held at Belgian clearing house Euroclear. The EU has decided to use profits from these assets to support Ukraine.