The European Union might employ three alternative methods to provide $54.3 billion in aid to Ukraine in the event of a Hungarian veto, Ukraine’s ambassador to the EU, Vsevolod Chentsov, said on Jan. 18.

Read also: Orban acknowledges EU can provide aid to Ukraine without Hungary’s involvement

Option A involves creating a fund for Ukraine that would operate for four years within the EU budget. Option B is an extra-budgetary fund where EU member states can contribute. Option C involves the European Commission borrowing funds under its guarantee, allowing the EC to provide macrofinancial support as periodic borrowings from the Commission under guarantees, Chentsov said.

Hungary is aware of these alternatives and that no country can “continually play the veto game.”

The EU favors the first option as it is cheaper and more convenient. “I believe Option A will be adopted,” said Chentsov. “There might be some safeguards or financial metrics review options in the final decision.”

Read also: Hungary threatens to push back talks on Ukraine’s path to EU membership until March

While the approval of the $54.3  billion aid for Ukraine is far off, bilateral assistance remains a possibility, Hungary stated on Jan. 18.

The EU is confident in approving the €50 ($54.3 USD) billion aid for Ukraine within a few weeks, NV  reported on Jan. 17.

Hungarian Prime Minister Orban blocked the adoption of an EU budget decision, which included a medium-term aid program for Ukraine, at the EU summit in December.

Ukraine will receive €50 billion in aid from the European Union, despite Hungary’s opposition, Germany’s Foreign Ministry announced at the end of December.

The EU is preparing an alternative plan to provide Ukraine with €20 billion ($21.74 billion) in financial support, bypassing Orban’s veto, the Financial Times reported.  The proposed mechanism could be used if Orban’s veto is not overcome at the planned summit on Feb. 1.

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