European Commission to allocate €550 million in funds to Hungary

The European Commission has announced it will allocate approximately €550 million in previously frozen EU cohesion funds to Hungary. This decision aims to address Prime Minister Viktor Orbán"s veto threat concerning the bloc"s latest sanctions against Russia, according to a report by the Financial Times.

This funding release is part of ongoing negotiations between Hungary and the European Union regarding financial support and compliance with EU regulations. The move is seen as a strategic effort to mitigate political tensions within the bloc.

For further context on related political developments, see recent developments in U.S. politics and similar situations in international relations.