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FM: OIL EMBARGO SHOULD EXEMPT PIPELINE FLOWS

Hungary's government is calling for pipeline deliveries to be exempt from the EU's planned sanctions on Russian energy deliveries, Péter Szijjártó, the minister of foreign affairs and trade, said on Wednesday.
 

Szijjártó said in a Facebook video that the European Commission had not made a proposal that would ameliorate the damaging effects of an embargo on Russian oil. He said the
Brussels proposal, if accepted in its current form, would “completely demolish” Hungary’s currently stable energy security. The measures would cause a 55-60% rise in fuel prices,
resulting in petrol prices around 700 forints (EUR 1.8) and diesel around 800 forints per litre, he said.
“We have made it clear that we may vote for the proposal only if Brussels proposes a solution to the problem they have created,” Szijjártó said. “We expect propositions regarding
the upgrade of our refineries and a capacity upgrade of the pipeline through Croatia for hundreds of millions of dollars, as well regarding the future of the Hungarian economy, as
the proposal in its current form is tantamount to a nuclear bomb.” The talks so far have made it clear that “Brussels has no solutions to those problems”, he said. Hungary will
therefore maintain its stance that sanctions on Russian oil may only pertain to maritime routes, he said.