Energy: Hungary announces veto on EU oil embargo

Energy: Hungary announces veto on EU oil embargo

No agreement in sight – Hungary wants to veto the planned EU sanctions decision on Russian oil. The sanctions package means “only problems” for Hungary.

The EU country Hungary wants to veto the planned embargo of the European Union against Russian oil imports.

“Hungary will not vote (in the EU Council) for this package because the Hungarian people must not pay the price for the war (in Ukraine),” Foreign Minister Peter Szijjarto said in the Budapest parliament on Monday. In order for the sanctions package to be implemented, all countries must agree.

In negotiations that have been ongoing since last week and will continue this week, EU countries have not yet reached an agreement on an oil embargo against Russia. The EU Commission had proposed giving Hungary, Slovakia and the Czech Republic more time to fully implement the delivery stop. In Hungary – but also in other countries – the proposal did not go far enough.

The sanctions package means “only problems” for Hungary, said Szijjarto on Monday. It does not have any solutions for how the country, which is dependent on Russian oil, can replace the missing imports. “This Brussels proposal amounts to a nuclear bomb being dropped on the Hungarian economy,” he said. The right-wing Prime Minister Viktor Orban had already attempted the same comparison in a radio interview last Friday.

Source: Stern

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