BUDAPEST, October 20. /TASS/. EU countries having long-term oil and gas contracts with Russia may have to pay huge penalties for breaking agreements when delivering the European Commission’s plan of rejecting Russian energy resources, Hungary’s Foreign Affairs and Trade Minister Peter Szijjarto, who had participated in the EU foreign ministers meeting, told reporters in the conversation streamed by M1 television.

Hungary is receiving oil and gas from Russia under contracts that are to remain in force for several years more, the minister said. At the same time, the Brussel’s initiative provides for their severance because the EU should completely reject supplies from Russia since January 1, 2028. "An international court may recognize it as unjustified and we will then have to pay a penalty for defaulting under the contract," Szijjarto said.

Proposals of the European Commission do not clearly stipulate thus far the way for the "exit from agreements" with Russia, the minister noted. "For the time being, draft regulations state only that such exit plans should be set out," Szijjarto noted, adding that this issue will be discussed during consultations with the European Parliament. Apart from Hungary, Slovakia also has long-term contracts for energy supplies from Russia, he added.

The EU Council approved at its meeting the proposal to prohibit any purchases of Russian gas for EU member-states since January 1, 2028. The decision covering pipe and liquefied natural gas should be approved by the European Parliament now.