Hungary has reiterated its opposition to extending European Union sanctions against Russia on energy, with a high-ranking official warning that such a move would hurt Member States more than Moscow, according to Bloomberg.
The EU is set to propose a ban on Russian oil by the end of the year due to its war in Ukraine, with import restrictions being phased in by then, Bloomberg reported, citing sources familiar with the matter. Hungary was one of the most vocal opponents of extending sanctions on Russian oil and gas.
It is important for the EU “not to accept sanctions that make it impossible to import Russian crude oil or natural gas,” Hungarian Cabinet Minister Gergely Gulias told state radio on Sunday. Gulyas did not say whether Hungary would try to veto such a move, which newly re-elected Prime Minister Viktor Orban has called his “red line”.
“An embargo would mean that we would have to procure these products from elsewhere at a significantly higher price, which would mean that we could not guarantee the maintenance of utility subsidies, neither the heating nor the operation of the economy.” said Gulyas. “These are enough reasons for everyone to come to Europe on their own.”
Hungary is among the countries that have agreed with Russia to allow their gas payments to be converted into rubles, testing EU sanctions policy. Russia cut off gas supplies to Poland and Bulgaria on Wednesday, implementing the threat to stop the flows if payments are not made in rubles
Source: Capital
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