War in Europe

Ukraine: Hungary blocks 90 billion EU loan. Zelensky: 'We are not losing the war'

According to the Financial Times, Budapest will not give the OK for the joint debt issue, for which unanimity of the member states is needed

20 February 2026

Operai riparano una sottostazione elettrica danneggiata da un recente attacco con droni e missili russi, nel contesto dell'attacco della Russia all'Ucraina, a Kharkiv, Ucraina, 20 febbraio 2026. REUTERS/Vyacheslav Madiyevskyy

4' min read

Translated by AI

Versione italiana

4' min read

Translated by AI

Versione italiana

Hungary has blocked the 90 billion euro EU loan for Ukraine, agreed at the European Council last December to provide Kiev with urgently needed funds for its state budget and military effort to resist the Russian invasion. The Financial Times, citing four insiders, reported that the Hungarian ambassador to the EU today objected to the joint debt issue. The loan envisaged the formula of enhanced cooperation between 24 member states: Hungary, Slovakia and the Czech Republic opted out, but had agreed to give their OK to the use of the EU budget margin ("headroom") as a guarantee for the joint debt issue, which requires unanimity of the 27 member states. The context is that of recent clashes between Kiev and Budapest, with the latter in the midst of an election campaign ahead of the April elections, in which the party of Prime Minister Viktor Orban, close to Vladimir Putin's Russia and opposed to supporting Ukraine, is given behind the opposition Tisza party by ten points according to recent polls. Ahead of the vote, Orban has intensified his anti-Kiev rhetoric.

Russian media: new negotiations next week, Kremlin does not confirm

On the front of negotiations to end the armed conflict, a new round of talks on Ukraine could take place next week in Geneva, a source told Tass. "Negotiations could resume as early as next week. Again in Geneva,' the Russian news agency source clarified. Kremlin spokesman Dmitry Peskov, however, did not confirm this information. "No, I cannot confirm this yet. After we reach an understanding, we will inform you, as we usually do lately," Peskov told reporters. Moscow does not have high expectations in the context of the negotiation process, the spokesman said, adding that it is a complicated and lengthy process.

Zelensky: 'Ukraine is not losing the war'

"The outcome of the war in Ukraine is still in the balance". Ukrainian President Volodymyr Zelensky said this in an exclusive interview with Afp, just days before the fourth anniversary of the Russian invasion. "You cannot say that we are losing the war. Honestly, we are not losing it, for sure. The question is whether we're going to win, but it's a very expensive question," Zelensky said, pointing out that the "level of intelligence Ukraine receives from the US has not diminished" and also that he "wants to place foreign troops destined to be deployed in Ukraine in the event of a ceasefire at our side on the front line."

Zelensky: Europeans must be in the negotiations

Ukrainian President Volodymyr Zelensky reiterated the need for the presence of European representatives in the negotiations to resolve the conflict in Ukraine, stressing that Europe's position must be an integral part of the diplomatic process. Zelensky said that at a meeting scheduled for today with members of the delegation that returned from the Geneva talks he would discuss the results of the meeting and define "the next framework of dialogue" with the US, European and Russian sides.

"It was important for the Europeans to be present in Switzerland. And that is exactly how we expect to continue working, ensuring that Europe's position is taken into account," Zelensky said in a video message posted on Telegram on Thursday.

New sanctions on Russia: still no agreement

Still no agreement at the Committee of Permanent Representatives of the Member States (Coreper) on the 20th sanctions package against Russia. A discussion was held today with the aim of reaching an agreement as soon as possible. The goal is to reach approval by the fourth anniversary of the Russian invasion, 24 February.

The EU High Representative for Foreign Policy, Kaja Kallas, also spoke on the issue: "Next Monday, we aim to adopt the package of 20 sanctions against Russia. The sanctions are working. They are severely damaging the Russian economy and each new measure further limits its ability to wage war. Moscow is not invincible. Its army is suffering record losses and its economy is under severe pressure. But Putin will not end this war until the costs outweigh the benefits, and that is the point we have to reach'.

Russian attacks on Kharkiv, Moscow blocks Ukrainian drones

According to the mayor of Ukraine's second largest city, Russian forces carried out a missile attack on the Slobidskyi district in Kharkiv. No casualties have been reported so far. Ukrinform also reports at least 20 attacks on the central-eastern region of Dnipropetrovsk, with kamikaze drones, Grad multiple-launch rockets and artillery strikes. At least three civilians were wounded. The town of Nikopol, on the banks of the Dnipro river, was hit, as well as the communities of Marhanets and Pokrovske. Damage to various buildings and fires were reported.

Ucraina, attacchi russi su Kharkiv: scoppia un gigantesco incendio in un magazzino

On the Russian front, Moscow's air defences shot down 149 Ukrainian drones in the night in several regions of the country and surrounding maritime areas, according to the Defence Ministry. "From 23:00 on 19 February to 7:00 Moscow time on 20 February, in-service air defence systems intercepted and destroyed 149 Ukrainian unmanned aircraft of the fixed-wing type," the Kremlin said. According to the same source, 57 drones were shot down over the Bryansk region, 28 over the Black Sea, 24 over the Azov Sea, 20 over Crimea, 17 over Krasnodar territory, two over the Rostov region and one over the Belgorod region. Moscow did not provide information on any damage or casualties.