Orbán thundered: This is a dead issue

Hungarian Prime Minister Viktor Orbán, upon arriving at the EU summit, reiterated to journalists that financing Ukraine through a joint EU loan is unacceptable for Hungary.

"So, I think this is a dead issue. They may try again, but there is no chance the proposal will get a majority. I think it is off the agenda, although some actions may still take place. We need to start over on the whole matter, to reconsider how to proceed. We still don’t know if other proposals will emerge to replace the dead, exhausted idea," Orbán said.

He also referred to the Hungarian Constitution, which states in one of its articles that the Hungarian government can only borrow money that creates a payment obligation for Hungary if it is approved by the parliament.

• Orbán: Unacceptable! VIDEO

"I do not have such an authorization, and I do not believe that any prime minister in Hungary will ever receive parliamentary approval to incur debt on behalf of Hungary. Therefore, for Hungary, financing Ukraine through a joint EU loan is absolutely impossible," Orbán said.

He emphasized that his goal at today’s EU summit is to take steps toward peace, not war.

The EU intends to use €210 billion of frozen Russian assets as the basis for a loan to Ukraine, because without financial assistance, Ukraine will run out of money in the second quarter of next year and will most likely lose the war to Russia, which in turn raises concerns within the EU about possible Russian aggression against the EU.