Hungary Lifts EU Vetoes on Israeli Sanctions and £78 Billion Ukraine Loan
Updated
Updated · The Guardian · May 15
Hungary Lifts EU Vetoes on Israeli Sanctions and £78 Billion Ukraine Loan
2 articles · Updated · The Guardian · May 15
Two days after Péter Magyar was sworn in, Hungary’s new pro-EU government dropped Budapest’s year-long block on EU sanctions targeting violent Israeli settlers and cleared the way for a £78 billion Ukraine loan.
The reversals mark an immediate break with Viktor Orbán, whose government had used vetoes to stall both measures and isolate Hungary inside the bloc.
Around £17 billion in EU development funds for Hungary still remain frozen, with roughly £10 billion requiring agreement by the end of August and likely hinging on judicial and anti-corruption reforms.
Magyar, backed by a two-thirds majority, has also moved quickly at home—urging President Tamás Sulyok to resign by end-May as figures tied to the Orbán era face investigations and pressure over assets.
The shift gives Brussels more room to act on Ukraine and Middle East policy while testing whether Magyar can dismantle 16 years of entrenched patronage and restore rule-of-law standards.
Can Péter Magyar sustain his rapid reforms and overcome resistance from entrenched Orbán-era networks to truly transform Hungary's political and economic system?
Will Hungary’s pivot toward the EU and away from Russia reshape the country’s identity, or spark new internal divisions in society and government?
What risks does Hungary face if asset recovery efforts provoke backlash from powerful business elites and former regime insiders fleeing abroad?
Hungary’s 2026 Election Shifts EU Policy: Orbán Ousted, €90 Billion Ukraine Loan Approved, and Sanctions on Israeli Settlers Unblocked
Overview
In April 2026, Hungary experienced a major political shift when Viktor Orbán was ousted after 16 years in power, with Péter Magyar winning a sweeping victory. This change was celebrated across Europe as a return to unity and shared values within the EU. The new leadership quickly unblocked key EU decisions, including sanctions on Israeli settlers and a €90 billion loan to Ukraine, which had been stalled under Orbán. Péter Magyar’s win signaled Hungary’s commitment to restoring democracy and fighting corruption, while also opening the door for stronger EU cooperation and reducing Russian influence in the region.