Today: Friday, 12 August 2022 year

Hungary refused to support the plan of sanctions against Russia “in its current form”

Hungary refused to support the plan of sanctions against Russia “in its current form”

As the head of the Hungarian government Viktor Orban said, Hungary and the European Union are generally not ready to accept the sanctions proposed by the European Commission against Russian oil.

The Prime Minister sent a corresponding letter to the head of the EC, where he noted that Budapest could not support the restrictions under discussion in their current form.

Orban added that the steps in question would require his country to “majorly modernize the alternative supply infrastructure and completely reorganize our refining capacity.” At the same time, the sanctions that have already been adopted, according to him, “have diverted the necessary national resources for excess investment in fossil fuels,” while the corresponding funding from Brussels is available to Budapest only on paper.

He stressed that the EC should not persist in imposing an embargo on Russian oil.

“If the European Commission insists on accepting its proposal, it will have to bear full responsibility for the historic failure in the process of European integration,” the prime minister said. In his opinion, the adoption of the package of sanctions in its current form will lead to a further increase in fuel prices.