• Home
• Channel: Current Affairs
• Opinion: Plans for an Oil Embargo Without Hungary

Opinion: Plans for an Oil Embargo Without Hungary

• 25 May 2022 8:56 AM
• BudaPost

A pro-government columnist believes Hungary would be happy with a non-binding embargo on Russian crude oil, as suggested by the German Deputy Chancellor.

German Minister of the Economy and Deputy Chancellor Robert Habeck suggested that Hungarian opposition to an immediate oil embargo could be circumvented by the remaining 26 EU member countries if they opt for a voluntary ban on Russian oil imports.

Meanwhile, Fidesz MEP Tamás Deutsch claimed at least half a dozen other member countries tacitly stand with Hungary on oil. In another development, Prime Minister Viktor Orbán told Charles Michel, the President of the European Council, that Hungary will need a solution to its problems with energy supply if Russian imports are phased out. In the meantime, MOL, Hungary’s regional oil and gas multinational, is reported to be working on a 15 point project to replace Russian oil.

On Mandiner, Mátyás Kohán ridicules western politicians, including Mr Habeck and Katarina Barley, deputy speaker of the European Parliament, who believe they can punish Hungary by declaring an oil embargo on Russia without her.

In fact, Kohán writes, “we would get exactly what we have been asking for”. He also suggests that in case of a voluntary boycott, Hungary may end up being followed by Slovakia, Czechia, Croatia, Bulgaria, and Italy. He then remarks that by insisting on their intention to phase out Russian oil, EU leaders have created panic and, consequently, a sharp rise in the price of crude oil, thereby hitting their own economies while boosting Russian oil revenues.

By ending the panic, on the other hand, he concludes, they would cut back Russia’s oil income by at least 30 per cent, without harming their own economies.

This opinion does not necessarily represent the views of XpatLoop.com or the publisher.

Your opinions are welcome too - for editorial review before possible publication online. 
Click here to Share Your Story


MTi Photo: Szilárd Koszticsák

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Hungarian Opinion Oil Embargo

XpatLoop Media Partner

BudaPost

Launched in May 2011 to provide a balanced picture of matters covered in Hungary’s national press. Their aim is to make it easier for English-speakers to understand where this country is now and where it’s heading according to the full spectrum of media opinions.

Explore More Reports

"Dangerous Proposals Still on Table” says FM, Still Hungary Likely to Get Exemption from EU's Oil Price Cap

• 25 Nov 2022 8:55 AM

It appears that Hungary will be given an exemption from the European Union’s planned price cap on Russian oil imports, the minister of foreign affairs and trade said in Brussels on Thursday, adding at the same time that “several dangerous proposals are still on the table”.



President Novák Speaks Out in Slovakia - Hungary’s 2nd Biggest Economic Partner

• 3 Oct 2022 7:19 AM

Types of EU economic sanctions are needed that would cause serious economic strife for the Russian aggressor, not the European economy, President Katalin Novák said on Friday in Bratislava after meeting Slovak counterpart Zuzana Čaputová.



Hungary 'Never Proud to be an Outlier in EU'', Say PM's Chief of Staff

• 28 Jun 2022 9:34 AM

Hungary's government aims to find allies and is never proud to be an outlier in "regrettable" debates in the European Union, the prime minister's chief of staff said. But sometimes combatting Brussels necessary to thwart decisions that don’t take Hungary’s interests into consideration, Gergely Gulyás said in an interview with public media website hirado.hu.



Hungarian Opinion: Sanctions on Russia and Europe’s Future

• 13 Jun 2022 9:14 AM

Commentators across the political spectrum ponder the broader implications of EU sanctions on the future of Europe.