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ORBÁN SLAMS PLANNED OIL SANCTIONS ON RUSSIA

The European Union's proposal on phasing out imports of Russian crude oil is "unacceptable", Prime Minister Viktor Orbán said on Friday, adding it was equivalent to "dropping a nuclear bomb on the Hungarian economy".
 

In a regular interview with public broadcaster Kossuth Rádió, the prime minister said EU member states had agreed earlier that the bloc should only take steps that take into consideration the different energy mixes of member states and their sovereign right to decide on them. However, the president of the European Commission “either willingly or unwillingly, attacked this hard-fought European unity”, he added.
Orbán said the EU proposal to phase out Russian oil imports was equivalent to “dropping a nuclear bomb on the Hungarian economy”, adding that its approval would “be the end of the utility price caps”. Petrol prices could reach 700 forints (EUR 1.80) per litre and diesel could cost up to 800 forints, he said.
Replacing Russian oil imports would take years and cost several hundreds of millions of forints, while changes to Hungary’s energy transmission system would cost thousands of billions of forints, he said. At the same time, a costly investment bringing results in 4-5 years may not “make sense” as the root of all problems, the war in Ukraine, “is here now”, he said.