EU needs Russian cash to avoid collapse – Orban

The over €100 billion already spent could hit taxpayers and spark a political backlash across the bloc, the Hungarian PM has said

The EU nations’ leaders, who have spent more than €100 billion (over $118 billion) on Ukraine, now hope to confiscate frozen Russian assets in order to prevent the collapse of their governments, Hungarian Prime Minister Viktor Orban has said.

Last week, the EU temporarily immobilized roughly $230 billion in Russian central bank assets by invoking Article 122, an emergency treaty clause that allows approval by a qualified majority rather than unanimity. Moscow has condemned the freeze as illegal and called any use of…

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