The European Union plans to hold an extraordinary meeting on Feb. 1 to evaluate its multi-annual budget, including Ukraine funding, the bloc's president Charles Michel said Monday.

"We understood on Thursday and Friday that a bit more time is needed with Hungary in order to make a decision by unanimity, which is needed for an agreement on the MFF (Multi-annual Financial Framework) review," Michel said at a joint news conference with Belgian Prime Minister Alexander De Croo.

Michel said that, besides funding for Ukraine, the 27-nation EU also had proposals to provide more financial support to address migration, to cover natural disasters and for security and defense.

Belgium will take over the six-month rotating presidency of the EU from Spain on Jan. 1.

EU leaders agreed last week to open membership talks with Ukraine, but they could not agree on a 50 billion euro ($54.6 billion) package of financial aid for Kyiv due to opposition from Hungary.

European Commission President Ursula von der Leyen said on Friday that she believes a way out of the EU budget dispute with Hungary is possible without agreement from Budapest.

Hungary used its veto during an EU summit in Brussels to prevent a deal on funding for Ukraine, as well as on the EU's overall budget.

"We are working very hard, of course, to have a result where there is an agreement of 27 member states," von der Leyen said.

"But I think it is now also necessary to work on potential alternatives to have an operational solution in case that an agreement by 27 so unanimity is not possible," she said after a two-day summit in Brussels.

Orbán for his part has linked the EU budget negotiations – including new aid for Ukraine amounting to 50 billion euros ($54.72 billion) – with the disbursement of frozen EU funds for his country.

"The fact that they want to change the (European) Union's seven-year budget law is an excellent chance for Hungary to get the rest of the withheld funds," Orbán said in an interview with Hungary's state television and radio in Brussels on Friday.

"We have to get not half, not a quarter, but all of it," Orbán said. "We are entitled to this money."

Around 21 euros billion in EU funds for Hungary is currently still frozen. The European Commission released 10 billion euros of the blocked sum one day before the EU summit on the grounds that Hungary had implemented the judicial reforms required for this.

Members of the European Parliament had criticized the decision as unjustified and accused the European Commission headed by von der Leyen of allowing itself to be blackmailed.

Orbán also pointed out on Friday that no decision had yet been made regarding Ukraine's accession to the EU.

Hungary still has "75 opportunities to stop this process," he said. Like all national parliaments, Hungary would also have to ratify Ukraine's accession to the EU.

"If we don't want Ukraine to become a member of the European Union, then the Hungarian parliament will vote against it," said Orbán.