Hungarian Prime Minister Viktor Orban has refused to discuss imposing an oil embargo on Russia at next week’s summit of EU leaders.
This was reported Financial Times with reference to Orbán’s letter to the President of the European Council, Charles Michel.
Orbán wrote to Michel that Hungary could not support the sanctions without more detailed information on EU funding provided to help Budapest abandon Russian oil.
Zerkal explained why Hungary opposes the embargo on Russian oilThe adviser to the head of the Ministry of Energy Zerkal explained why Hungary is against the introduction of an embargo on Russian oil. Hungary wants compensation and fears rising fuel prices, as prices are now lower than the European average.
May 11, 2022, 7:19 p.m.
“It would be counterproductive to discuss a package of sanctions at the level of leaders in the absence of consensus. This will only highlight our internal contradictions, but will not give us a real chance to resolve them. Therefore, I propose not to raise this issue at the next summit. “– it is said in Orban’s letter.
The prime minister said the sanctions would cause serious supply problems in Hungary, undermine its energy security interests and create a “price shock” for households.
Hungary, Orban wrote, needs money to adapt its refineries and build new pipelines to provide alternative supplies to the country.
It will be recalled that the Hungarian government opposes the embargo on Russian oil, despite the EU’s readiness to give the country a longer transition period.
The refusal to block the oil embargo in Budapest is estimated at at least 700-750 million euros.
Meanwhile, the European Parliament is already proposing to ignore Hungary’s position, calling its demands “brazen and corrupt.”