Hungary says it ‘won’t even negotiate’ energy sanctions on Russia — Analysis

Russian energy supplies can’t be replaced in the foreseeable future, Hungary’s foreign minister states

Hungarian Foreign Minister Peter Szijjarto stated on Saturday that Budapest will not negotiate additional EU sanctions against Russian energy, as there is no alternative supply from Moscow.

In response to conflict in Ukraine the EU has placed several rounds of sanctions against Moscow and is pushing for an end to all energy supply from Russia.

“We’re not even willing to negotiate any sanctions on energy, be it oil or gas,”Szijjarto, speaking at an economic forum Tihany added that “the courage of the Hungarian government”It has enabled Budapest to stand up against the pressures from Brussels.

“There is no security of energy supply to Europe without using Russian sources,”Szijjarto stated that Russian gas is not likely to be replaced anytime soon.

The minister of foreign added, “largely misguided sanctions response” to Russia’s military campaign is one of the factors driving up inflation and contributing to a global recession.

Serbia reacts to Russia’s gas supply

In May, the EU exempted Hungary from a ban on Russian crude oil. Hungary is heavily dependent upon Russian oil and gas. Although the bloc has banned oil imports by sea from the EU, Hungary still receives the commodities via pipeline.

Viktor Orban (Hungarian Prime Minister) stated last month that Europe is in a “reset”. “shot itself in the lungs”Its ill-considered and harsh sanctions against Russia

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