Estonia’s Foreign Minister Margus Tsahkna cautioned that if Hungary prevents the renewal of sanctions against Russia, the European Union might have to transfer €240 billion in seized assets back to Vladimir Putin, according to Spiegel.
Talking to one of the media outlets in Brussels, Tsahkna referred to Russian President Vladimir Putin as a " liar" and demanded the seizure of Russia’s frozen assets.
“We have frozen real estate assets in Europe worth more than €240 billion. The Russian central bank's money is predominantly in Belgium,” said Estonia’s top diplomat.
The Estonian Foreign Minister stated that the EU needs to renew sanctions against Russia every six months through voting. Hungary's approval is necessary for each renewal. (Earlier, Tsahkna mentioned Hungarian Prime Minister Viktor Orbán in connection with this issue). Should Hungary veto the vote in June, the held-back funds might be returned to Russia.
"If Hungary blocks this in June, not only will the sanctions lapse, but we'll be forced to transfer the €240 billion to Putin. How do the leaders plan to justify to European citizens that they are giving funds to Putin, which he could use not just against Ukraine but also against us? Therefore, we must seize these assets," he said to the outlet during the margins of a NATO Foreign Ministers meeting in Brussels.
Tsahkna further mentioned that there is a legitimate foundation for taking such action.
"We can’t let Belgium handle this on its own. It’s crucial that we make sure the funds aren’t released, regardless of whether there’s a consensus. Demanding taxpayer money from us to aid Ukraine but not asking for contributions from Russia, which is the aggressor, isn’t justifiable," he stated conclusively.
Bypassing Hungary's veto
Approximately two weeks ago, Politico disclosed that European authorities have ceased factoring in Hungary's position regarding Ukraine and do not seek its endorsement anymore. The EU has devised a method to circumvent Hungary’s veto power. This became clear from the collective EU announcement released on March 20th, endorsed only by 26 of the 27 member nations.