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Hungary will not support EU oil embargo, PM Orban says
By Ishika Dangayach - May 06, 2022, 01:50 PM ET
Last Updated - Feb 26, 2024, 02:00 PM EST
The move to limit Russian oil imports would be an "atomic bomb" placed on the Hungarian economy, PM said
Prime Minister Viktor Orban said on Friday that Hungary will not support the European Union's sanctions on Russia, which include an oil embargo.
The present plan limiting Russian oil imports would be an "atomic bomb" placed on the Hungarian economy, the Hungarian leader said.
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Orban added that Budapest was willing to engage if it saw a fresh proposal that met Hungarian interests.
The European Commission's president, Ursula von der Leyen on Wednesday asked the bloc's 27 countries to restrict crude oil imports within six months and refined oil products by the end of the year.
“Let us be clear: it will not be easy. Some Member States are strongly dependent on Russian oil. But we simply have to work on it,” von der Leyen said. “This will be a complete import ban on all Russian oil, seaborne, and pipeline, crude and refined.”
Many nations are worried about the consequences of cutting off Russia's oil supplies, on Thursday Japan’s Minister of Economy, Trade, and Industry Koichi Hagiuda said it will have "difficulty" following through on a move to halt Russian oil supplies in response to the invasion of Ukraine.
Picture Credits: Reuters
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