Russian oil ban not enough to stop them funding war says expert
Diplomats in Brussels have spent the past two weeks trying to get support from all members of the European Union (EU) to cease Russian oil imports by the end of 2022. The measure is part of a sixth raft of sanctions the bloc wishes to get signed off against Moscow. Doing so would help to cut funding for Russian President Vladimir Putin’s invasion of Ukraine. But the proposals have yet to win over Hungary and its Prime Minister Viktor Orban.
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European Commission President Ursula von der Leyen has said a complete ban on imports of Russian crude and refined fuels “will not be easy”, but she added “we simply have to do it”.
On Monday, Hungary’s Government told EU officials that it would need a payment of €15 billion to €18 billion (£15 billion) for it to agree with the ban on Russian oil.
The sum is a significant increase on the €750 million (£634 million) quoted by Budapest’s Foreign Minister Péter Szijjártó last week.
EU diplomats have been shocked by the development, with one telling Politico that the figures being sought by Hungary are “out of the question”.
READ MORE: Russia has ALREADY lost war in Ukraine as Putin's military 'decimated'
Why is Hungary demanding a fee?
Mr Orban has said that “in the interests of European unity”, Hungary will not block the sanctions against Russia, although he does not agree with them.
But, he caveated the measures must “not endanger Hungary’s energy security”.
According to Mr Szijjártó, Hungary requires a €15bn to €18bn payment so that it can fund “a total modernisation of Hungary’s energy structure” and combat growing oil prices.
As Hungary is landlocked, it leans heavily on oil imports provided via pipelines and is particularly reliant on those owned by Russian entities.