Hungarian Foreign Minister Peter Szijjarto again declared the embargo on Russian oil unacceptable for the country.
Hungarian Foreign Minister Peter Szijjarto said that the EU proposals for sanctions on Russian oil are still unacceptable, as if approved, they would lead to devastating consequences for the Hungarian economy.
Szijjarto noted that such sanctions would destroy the Hungarian economy. And the European Union has not yet offered any solutions to the problems that will arise in Hungary if such restrictive measures are taken.
Bloomberg notes that, according to the minister, Budapest will be ready to approve EU sanctions against Russian oil only if they do not concern oil pipelines. In its current form, the proposals for sanctions are still unacceptable for Hungary, Szijjártó said.
On May 4, the EU announced plans to ban member states from importing Russian oil and petroleum products for six months. Unanimous approval is required for the embargo to take effect. Hungary rejected this proposal, the Czech Republic and Slovakia want a longer transition period. If this decision is made, the transportation of oil through the Druzhba pipeline, including to Poland and Germany (about 500 thousand barrels per day), will be stopped.
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