No agreement reached between Hungary, EU over Russian oil embargo

by IANS |

Budapest, May 10 (IANS) Hungarian Prime Minister Viktor Orban met Ursula von der Leyen, president of the European Commission (EC) here, but the two sides did not reach an agreement over the proposed Russian oil embargo.

"This evening's discussion with PM Viktor Orban was helpful to clarify issues related to sanctions and energy security," von der Leyen tweeted on Monday night following the 90-minute-long working dinner at the Hungarian leader's residence in the Castle District of Budapest.

"We made progress, but further work is needed. I will convene a VC (video conference) with regional players to strengthen regional cooperation on oil infrastructure," she added.

A European Union (EU) source said on Monday that the EC was considering offering funds to landlocked Eastern EU states such as Hungary, Slovakia and the Czech Republic to modernize their oil infrastructure in order to persuade them to accept the Russian oil embargo.

In its sixth sanction package aimed against Moscow, the EU plans to phase out Russian crude oil within six months and refined products by the end of the year, according to von der Leyen.

But Hungary and other Eastern European countries, whose economies are largely reliant on Russian oil, are not ready yet to accept the sixth sanction package in its current form.

"Discussions with the EC president Ursula von der Leyen ended, the topic was of course the next round of sanctions in Brussels and its impact on Hungary and the Hungarian economy," said Peter Szijjarto, the Hungarian Minister of Foreign Affairs and Trade, who also took part at the meeting.

"This round of sanctions in Brussels would cause enormous problems for Hungary if it came into force, because Hungary's energy supply is secure now, but the adoption of this sanctions package would compromise our energy security, because it would be impossible for us to obtain enough oil.

"As long as the EC does not offer a solution to these problems, of course Hungary cannot support this series of sanctions," Szijjarto said in a video message posted on his Facebook page.

Latest News
Top psephologist says PM Modi's connect with women to propel NDA to '400 paar' Fri, Apr 26, 2024, 04:48 PM
Covid-19 worsened 'silent' spread of antimicrobial resistance: WHO Fri, Apr 26, 2024, 04:42 PM
Govt working on setting up Maritime Development Fund akin to Power Finance Corp, REC Fri, Apr 26, 2024, 04:38 PM
Several killed and injured after junta airstrikes in Myanmar Fri, Apr 26, 2024, 04:35 PM
South Korea, Japan could consider simplified entry agreement amid warming ties: Seoul official Fri, Apr 26, 2024, 04:33 PM
CM Vijayan loses cool when asked if elections would be assessment of his governance Fri, Apr 26, 2024, 04:31 PM
Brand owners may look at chess GM Gukesh and others for endorsement deals Fri, Apr 26, 2024, 04:29 PM
Global connected car sales to exceed 500 million in 2030, India to be among top nations Fri, Apr 26, 2024, 04:11 PM
INDIA bloc aims to divide the country on religious grounds: UP CM Yogi Adityanath Fri, Apr 26, 2024, 04:07 PM
FairPoint: If mangoes were for bail, then CM Kejriwal would ride out of jail Fri, Apr 26, 2024, 04:01 PM
Hulkenberg to leave Haas for Sauber at the end of F1 season 2024 Fri, Apr 26, 2024, 03:54 PM
Kia's net profit up 32.5 pc in Q1; India sales drop due to aging models, geopolitical factors Fri, Apr 26, 2024, 03:47 PM
We will implement UCC in entire country, it is 'Modi ki Guarantee': Amit Shah Fri, Apr 26, 2024, 03:45 PM
Three dead after mini car falls into paddy field in Japan Fri, Apr 26, 2024, 03:09 PM
Amid scorching heat, Tripura East records 55 pc turnout till 1 p.m. Fri, Apr 26, 2024, 03:07 PM