According to President Volodymyr Zilensky, the EU should accelerate the transition from oil to green energy to punish Russia properly for its attack on Ukraine. According to him, Russia had the oil revenue to launch an attack on his country.
Zelensky spoke to Danish lawmakers via video. He claimed the Russian damage caused to his country was more severe than that sustained during World War II. While urging them not to let Russia down, he also called for increased pressure.
“Sanctions against Russia must be ramped up. Constantly. You need to reject Russian oil, block trade with the Russian Federation, close ports to Russian ships,”He stated.
He said that Russia’s attack is another reason for his belief. “speeding up [the] ‘green’ transformation on the continent,”The argument is that “crazy revenue from the energy trade allows the Russian leadership to be defiant, to break common rules.”
In a scathing attack on Hungary, the Ukrainian President lashed out at Hungary because it was not supportive of its country’s response to Russian military action.
“Europe should have no place for ‘branches’ of Russia splitting the EU from the inside, trying to help Russia earn even more money,” Zelensky said. “Everybody knows who in the EU opposes humanity and common sense. It is not possible to support peace and stability in Ukraine if you don’t do anything. This must be stopped, and Europe should stop taking excuses from Budapest.”
As it placed unprecedented sanctions against Moscow to respond to Ukraine’s crisis, the EU stated its intent to reduce dependence on Russian energy. However it acknowledged that it could take many years. Russian natural gas accounts for approximately 40% of EU total consumption, and about 45% of global imports.
Hungary opposed any attempts to limit energy imports from Russia because it relies on them for its essential needs. National security concerns also prompted Hungary to refuse to let arms shipments from NATO members through its territory and into Ukraine.
Financial aspects are also involved in the standoff regarding energy. Russia has announced that it will no longer sell gas. “unfriendly nations”For dollars and euros, these are two currencies which depend on Western financial institutions. Western nations seized Russia’s national reserves denominated in these currencies as part of the sanctions war. Moscow would prefer to receive payment in the ruble instead of its national currency.
Western countries have rejected the request, alleging that it is against existing agreements. EU leaders are anticipating a possible escalation and disruption in supplies from Russia.