Hungary expects the European Union to finance investments and compensate for the rise in energy prices with alternative suppliers if the country refuses Russian oil. About this how transmits Reuters, Hungarian Foreign Minister Peter Szijjártó said.
He said that the complete modernization of Hungary’s energy infrastructure would require 15 to 18 billion euros, writes “Novaya Gazeta. Europe” .
According to Szijjarto, another solution could be to remove the clause on the introduction of an embargo on the supply of oil by pipeline from the sixth EU sanctions package.
Politico reported, citing three EU officials, that the European Union may provide Hungary with financial compensation to support further sanctions against Russia, including an embargo on Russian oil. However, Prime Minister Viktor Orban has so far blocked European sanctions against Russian oil, arguing that stopping imports would amount to dropping a “nuclear bomb” on the Hungarian economy.
Earlier, Brussels had offered to give Hungary and Slovakia, landlocked and dependent on Russian raw materials, a deadline until the end of 2024 to refuse Russian supplies. Hungary said it needed more time to reduce its dependence on Russian oil.
European diplomacy chief Josep Borrell said on May 16 that EU foreign ministers could not yet agree on a sixth package of anti-Russian sanctions.