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Hungary would embargo Russian oil but EC has no proposal for solution of subsequent issues

According to the Hungarian Minister of Foreign Affairs, the embargo should not cover Russian shipments to Hungary via pipelines

Hungarian Foreign Minister and Trade Peter Szijjarto Russian Foreign Ministry/TASS

Hungarian Foreign Minister and Trade Peter Szijjarto

© Russian Foreign Ministry/TASS

VIENNA, May 11. /TASS/. Hungary is ready to support the ban on Russian oil imports only if the European Commission (EC) offers a solution to issues that may arise in this case, Hungarian Minister of Foreign Affairs Peter Szijjarto said on Wednesday, adding that Brussels has not provided any respective proposals yet.

The embargo should not cover Russian shipments to Hungary via pipelines, the minister noted. "Hungary will take this position during the future talks," he said.

"If the European Union’s proposal to ban Russian oil imports comes into force, it will seriously influence stable energy supply to Hungary. This proposal is equal to an economic atomic bomb. Fuel prices in Hungary will rise by 55-60%. Their growth will be followed by a surge in prices for all goods. The country will not withstand it," Szijjarto said, adding that "Brussels has no proposal for a solution."

The European publication of the Politico newspaper informed on Tuesday that the European Commission was ready to provide a compensation to Hungary for supporting the embargo against Russian oil and the sixth package of sanctions against Moscow overall. According to three European officials, the funds are to be given to Budapest as part of the new energy strategy of the European Union that is to be formulated next week.

EU states’ envoys have been unable to reach an agreement on the parameters of the sixth package of sanctions for more than a week. The EU’s top diplomat Josep Borrell said on Tuesday that a number of difficulties still remained. He did not rule out that the issue would be discussed at a meeting of the EU Council at the level of foreign ministers on May 16.

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