Hungary needs billions in frozen EU funding, and it needs it fast. Newly-elected Prime Minister Péter Magyar is now headed to Brussels to collect, but the process many be more difficult than Hungary first hoped for.
“We have arrived in Brussels for the most important talks of recent years. Access to many thousands of billions of forints is at stake,” Magyar wrote on his X channel.
We have arrived in Brussels for the most important talks of recent years. Access to many thousands of billions of forints is at stake. https://t.co/GWED33mWS2
— Magyar Péter (Ne féljetek) (@magyarpeterMP) May 28, 2026In a previous ambitious post on Facebook, Magyar contended an agreement would be reached by tomorrow to “bring back thousands of billions of forints of EU funds,” some €35 billion to be exact.
Magyar may be too optimistic.
The new Hungarian prime minister and leader of the Tisza party faced immediate hurdles from Brussels after his landslide victory in April. Hungary and Hungarians sorely need the funds due to it from the EU, which have been frozen for years due to ongoing cases initiated by Brussels over alleged rule-of-law violations, refusal to accept migrant quotas, and the blocking of aid for Ukraine.
According to one senior official cited by Euractiv, “The Commission is doing everything to help Budapest move forward, but it’s unlikely they will get the €10 billion they are aiming for.”
All in all, despite some progress made under the previous Orbán government, Hungary must still meet 27 separate conditions to access funds, including the lifting of its veto on Russian sanctions and rolling back policies on asylum. Right off the bat, these demands directly challenged Magyar’s pledges to his electorate to prioritize national sovereignty and maintain tight border controls.
Around €18 billion of EU budget funds remain frozen over rule-of-law concerns, with some €10 billion tied to conditions being fulfilled by the end of August. Another €17 billion in defense-related financing is also being withheld. Then there is the €1 million per day in fines, approaching a sum total of €900 million, due to Hungary not accepting refugees.
Magyar has already felt the heat after he reimposed a ban on imported agricultural products from Ukraine. Brussels was not happy and will clearly use this as leverage for him to be able to bring the bacon home.
Euractiv further noted in its coverage that “tense behind-the-scenes diplomacy and brinkmanship suggest the encounter between the Commission president and Hungary’s new prime minister, who ousted Viktor Orbán, will be anything but smooth.
“Talk of a new era and rapprochement between Brussels and Budapest remains premature. The two sides are still far apart, and agreeing even a joint statement is proving difficult.”
At tomorrow’s meeting, Magyar is expected to formally submit Hungary’s intention to join the European Public Prosecutor’s Office (EPPO), something he hopes will help calm the waters.
Today, the Hungarian prime minister is expected to meet with NATO Secretary General Mark Rutte.
