If Trump withdraws the U.S. from the conflict, Europe will not be able to finance the war in Ukraine, Orban of Hungary warns.

• Viktor Orban, the Hungarian leader, stated that Europe cannot bear the financial burden of aiding Ukraine against the Russian invasion alone.
• President-elect Trump, who is closely allied with him, is likely to steer Washington out of the conflict, as warned by him.
• Historically, Ukraine has relied on foreign humanitarian and military aid to counter Russia's two-year invasion, with the U.S. and the EU being the primary providers of this assistance.

Viktor Orban, the Hungarian leader, stated on Friday that Europe cannot bear the financial burden of supporting Ukraine against the Russian invasion alone. He cautioned that President-elect Donald Trump may lead the US away from the conflict.

"Orban stated on national radio that Europe cannot finance this war and that there is a growing number of people who remain silent despite their initial support for the war," according to Magyar Tavirati Iroda's Google-translated comments.

After hosting European leaders at the European Political Community summit in Budapest, Orban emphasized the need for a "peace budget" and stated that this could now be done, with Trump set to take office as President of the United States following his victory over Harris in the national elections.

"According to Orban, the Americans will not encourage the war in Ukraine and will not say that it is a good thing. He also stated that many things are said about Donald Trump, but no one questions that he does not start a war. Instead, he is a person who hates war and a real businessman who believes that life and things go well when there is no war."

Historically, Ukraine has relied on foreign humanitarian and military aid to counter Russia's two-year invasion, with the U.S. and the EU being the primary providers of this assistance.

Since the start of the war in February 2022, the Kiel Institute of the World Economy estimates that EU member states and institutions have spent a combined 161.11 billion euros ($173.57 billion) in military, humanitarian, and financial support, with the U.S. contributing $108 billion over the period.

Slovakian Prime Minister Robert Fico, whose country is heavily dependent on Russian hydrocarbons, questioned the European funding agenda on Thursday.

He stated in a Google-translated Facebook update that when there is funding for the senseless killing of Slavs in Ukraine, we must allocate a significant amount of money in the EU to combat illegal migration, which poses an existential threat to Europe as a whole.

The Trump agenda

Earlier this week, Orban, a longtime Trump ally, hailed the Republican politician's election as a "much needed victory for the world" and "the biggest comeback in U.S. political history." The two leaders have had a deep relationship since Trump's first term, with Orban even adopting a "Make Europe Great Again" slogan when his government assumed the rotating presidency of the European Union over the summer, a slogan similar to Trump's first campaign mantra.

Both politicians have historically called for an urgent end to the conflict in Ukraine, and Orban on Friday attributed the recent inflationary spike to the surge in energy prices resulting from Western nations' sanctions against Russian oil and gas exports.

Orban, who claims to be a peacemaker, has frequently urged for a truce and this summer began his term as EU president with trips to Ukraine, Russia, and China - to the dismay of European leaders, who denounced his unexpected alliance with Moscow as inconsistent with the EU's stance.

Trump has hinted that he may stop the large aid packages to Kyiv, which were established during the previous administration, and praised Ukrainian leader Volodymyr Zelenskyy as "perhaps the greatest salesman of any politician in history" for securing foreign aid.

The President-elect has previously criticized NATO members for not meeting the alliance's 2% GDP investment guideline, which NATO has been working to address. The U.S. has the largest number of military personnel in NATO, with almost 1.33 million troops, according to Statista in July.

Ursula von der Leyen, the EU Commission President, discussed broader defense and energy with the President-elect of Ukraine during a congratulatory phone call.

Trump previously promised to resolve the conflict in Ukraine within 24 hours of taking office, but did not specify how. This has raised concerns about whether Kyiv will be pressured or deprived of resources to surrender occupied territory to Russia. Ukraine has previously refused to negotiate or surrender ground while Russian troops remain in its territory.

In Budapest, Zelenskyy emphasized that a truce without security guarantees for Ukraine would only lead to further Russian occupation, and criticized the "dangerous rhetoric" of certain attending state leaders.

The leader stated that achieving a ceasefire is a model that is often mentioned by leaders from Brazil, China, and Russia. It is crucial that Russia adopts this model, according to the Ukrainian state news outlet, Ukrinform.

Some European heads of state remain staunchly committed to ongoing support for Ukraine.

German Chancellor Olaf Scholz stated on Wednesday that it is incorrect, dangerous, and unnecessary to create a contradiction between supporting safety or solidarity, Ukraine or Germany's future, as his ruling coalition dissolved earlier in the week due to differences over the national budget, including aid for Ukraine.

— CNBC's Sophie Kiderlin contributed to this report