Hungary threatens to disrupt EU sanctions against Russian gas

The European Union's efforts to put sanctions on Russia's liquefied gas (LNG) exports are facing opposition from Hungary.

Source: Politico with reference to representatives of EU countries who were present during the discussion, as reported by European Pravda

Details: According to reports, Budapest raised strong objections about the latest sanctions package during the first meetings between EU ambassadors last week, but did not outright oppose the measures.

A high-ranking representative of Hungary, whose name was not mentioned, stated that their country will oppose any measures that boost European energy prices, according to the document.

Quote: "We are going to analyse the package but do not support anything that might have a negative impact on [the] EU gas market," the Hungarian official said during a meeting of diplomats on Wednesday, two diplomats familiar with the discussion said.

The sanctions ban EU countries from re-exporting Russian LNG, but they do not prevent the EU from purchasing Russian gas and have no direct impact on Hungary's business interests.

However, Budapest is highly reliant on Russian LNG and has long resisted additional energy restrictions against Moscow, which would require unanimous backing from all 27 EU countries.

According to the publication's sources, during the initial negotiations, several other nations, including France, Germany, Italy, Spain, and France, requested additional technical details about sanctions measures.

"When it comes to energy, they’re worried. They fear it will destabilise the markets, even indirectly," said an unnamed EU diplomat.

Unlike other EU nations, Hungary refused to stop buying gas from Russia following the outbreak of a large-scale war in Ukraine, even entering into new arrangements with the Russian giant Gazprom to augment supplies during peak demand.

Earlier, European Commissioner for Energy Kadri Simson stated that the European Commission's thorough preparation of a new package of sanctions against the Russian Federation, as well as the gas agreement recently adopted by EU energy ministers, should ensure unhindered approval of restrictions on the export of liquefied gas from Russia.

In April, the European Parliament approved regulations allowing European nations to exclude Russian LNG imports.

The European Commission sent EU countries a draft proposal for a 14th package of sanctions against Russia. The proposal includes, among other things, restrictions on imports of liquefied natural gas (LNG) from Russia, although there are no plans for a full embargo.

Valdis Dombrovskis, Vice President of the European Commission, confirmed that the EU started working on the next 14th sanctions package against Russia due to its full-scale invasion of Ukraine.

Support UP or become our patron!