EU recommends withholding funds for Hungary over graft concerns

The European Union’s executive arm proposed suspending 7.5 billion euros ($7.5 billion) from its budget earmarked for Hungary over accusations of corruption and fraud.  

The European Commission proposed suspending the funding as part of its new power under its so-called conditionality mechanism, according to a statement on Sunday. The penalty would still need to be approved by the bloc’s member states. 

“The European Commission has today proposed budget protection measures to the Council under the conditionality regulation,” according to a Sunday statement. “This is to ensure the protection of the EU budget and the financial interests of the EU against