Budapest/Brussels, December 14, 2025 – Hungarian Prime Minister Viktor Orbán has sharply condemned the European Union's decision to indefinitely immobilize approximately €210 billion in frozen Russian Central Bank assets, labeling any attempt to seize or use them as a "declaration of war." Speaking on December 13-14, 2025, Orbán criticized Brussels for bypassing national vetoes and prioritizing financial maneuvers over member states' economic capacities, warning of severe geopolitical and legal repercussions.
Orbán singled out European Commission President Ursula von der Leyen, European People's Party leader Manfred Weber, and German Chancellor Friedrich Merz for pushing the plan, which he described as "raping European law in broad daylight." He emphasized that confiscating hundreds of billions in sovereign assets "has never gone unanswered in history," potentially undermining trust in the euro and risking retaliation that could devastate economies like Belgium's, where most funds are held at Euroclear.
"I'm going to Brussels to fight," Orbán stated, vowing to oppose efforts to access Russian assets without Hungary's consent. He argued that alternatives—such as loans from financial markets or contributions from member states—should be evaluated based on each country's ability to bear the costs of supporting Ukraine's war effort.
The comments follow the EU's approval on December 12, 2025, of an indefinite freeze on the assets, replacing the previous six-month renewal requirement that allowed potential vetoes by Moscow-friendly governments like Hungary and Slovakia. This move, invoked under Article 122 for economic emergencies, paves the way for a proposed "reparations loan" of up to €165 billion to Ukraine for military and civilian needs in 2026-2027. Ukraine would repay only if Russia provides war damages, effectively advancing future reparations.
Italian Deputy Prime Minister Matteo Salvini echoed concerns, calling the indefinite freeze "risky and imprudent." He highlighted that 314 Italian companies operate in Russia, generating revenue and jobs, and stressed: "We are in a free market, we are not at war with Russia... It seems to me that Brussels is playing with fire." Salvini praised the Italian government for clarifying its stance amid the bloc's actions.
Dissent within the EU is evident, with Belgium, Italy, Bulgaria, and Malta urging exploration of lower-risk alternatives. Belgium, hosting the bulk of assets at Euroclear, has demanded full burden-sharing and guarantees against potential Russian lawsuits. Russia's Central Bank has already filed a suit against Euroclear in Moscow, calling the plans illegal and reserving rights to protective measures.
The indefinite immobilization eliminates veto risks from Hungary and Slovakia, ensuring assets remain blocked until Russia ends its aggression and compensates Ukraine, as stated by EU Council President António Costa. However, critics like Orbán argue it sidelines unanimity rules, damaging the bloc's legal foundation.
EU leaders are scheduled to finalize the reparations loan details at the December 18-19 Brussels summit, amid negotiations to address remaining hurdles, including risk-sharing for Belgium.
Russia views the actions as theft, with prior warnings of retaliation. The dispute underscores fractures in EU unity on Ukraine financing, as international aid dynamics shift with reduced U.S. support under President Donald Trump.
Orbán's rhetoric highlights fears of escalation, positioning Hungary as a vocal opponent while advocating direct Europe-Russia negotiations for peace.
