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Hungary demands a 5 -year delay on Russia’s oil embargo

A proposal to ban Russia’s oil from the European Union is “like an atomic bomb,” Orban said.

Hungarian Prime Minister Viktor Orban announced the need for a five -year delay for the country to impose an oil embargo against Russia, Bloomberg wrote on Friday, May 6.

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Orbán said he wanted a five -year delay – rather than a year currently being considered – for Hungary before starting to comply with the EU ban on Russia’s oil.

Orban again rejected EU proposals to ban Russian oil. He compared this move to the use of “nuclear bombs” against the Hungarian economy.

“This proposal by the European Commission would be ‘like an atomic bomb’ dropped on the Hungarian economy. Hungary is willing to negotiate if it sees a new proposal that would be in the country’s interest,” Orban said.

The Hungarian minister said his ultimate goal was not to veto the upcoming EU sanctions, but to work properly with the rest of the union on the issue of sanctions.

Hungary’s removal from Russia’s oil will require billions of dollars of investment and Budapest’s resumption of access to its $ 7.6 billion stake in the coronavirus recovery fund, which was previously blocked due to concerns about on the possibility of wrongdoing, he said.

In addition, Orban opposes sanctions against clergy, including Patriarch Kirill of Moscow and All Russia.

It was previously reported that Hungary and Slovakia would receive a 20-month delay in the oil embargo against the Russian Federation. The EU continues to discuss this issue.

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Source: korrespondent

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