EU conference next week should not debate oil sanctions, says Hungary’s Orban

The EU’s proposed fresh measures against Russia, including an oil embargo, should not be debated at the bloc’s leaders’ summit next week, according to Hungarian Prime Minister Viktor Orban in a letter to European Council President Donald Tusk.

 

In the letter, dated May 23rd and seen by Reuters, Orban stated that a solution was unlikely to be found by then, and that Hungary would not agree to the proposed EU sanctions unless all outstanding issues were resolved.

 

The European Commission recommended further penalties against Russia earlier this month, but they require unanimous backing from all 27 EU member states, and Hungary has blocked them. more info

 

Orban stated again that ‘solutions must come before sanctions.’

 

‘Given the complexity of the difficulties still outstanding,’ he stated, ‘it is very improbable that a comprehensive solution could be established before the special meeting of the European Council on May 30-31.’

 

‘I am confident that addressing the sanctions package at the level of leaders would be unproductive in the absence of a consensus.’

 

 

Hungary, which is largely reliant on Russian oil, has stated that it will require approximately 750 million euros in short-term investments to upgrade refineries and expand a pipeline carrying oil from Croatia.

 

It also stated that the long-term transition of its economy away from Russian oil could cost up to 15-18 billion euros.

 

Last Monday, the EU promised up to 2 billion euros in aid to three landlocked nations that rely on Russian supplies: Hungary, the Czech Republic, and Slovakia. They were also given a longer transition period.

 

However, Orban stated that while the European Commission has provided ‘encouraging signs’ that the EU’s REPowerEU Proposal will provide a suitable solution to Hungary’s challenges, ‘the plan published on 18 May fails to specifically and thoroughly address the fundamental concerns we have expressed.’

 

He stated that Hungary is still committed to continuing the negotiations.

 

An oil embargo, which the US and Britain have already implemented, is largely regarded as the best method to decrease Russian income for its conflict in Ukraine. Russian coal has been prohibited in the EU.