Decision on Russia’s asset freeze may await US elections Hungarian FM says

Hungary's Finance Minister Mihály Varga has said that Budapest is not prepared to support the idea of freezing Russia's sovereign assets in the EU for three years, as opposed to the existing system where restrictions are renewed every six months. 

Varga made this statement at a press conference following a meeting of the economic and finance ministers of EU member states in Luxembourg, Caliber.Az reports via Russian media.  

"We have had a great discussion today. I believe this decision may not be made earlier than the US elections. This is Hungary's position. We must see which direction the new US administration will take," he said in response to questions about whether Budapest had lifted its veto on changing the asset freeze renewal system, a move that could facilitate decisions by Brussels and Washington aimed at future attempts to expropriate these funds. 

"As you can see from the election campaign, there are two candidates moving in completely different directions: one towards peace while the other towards continuing the war. We believe that this decision must be made after the elections," he added.

By Naila Huseynova