Earlier there was talk of 750 million euros.
Hungarian Foreign Minister Peter Siyyarto said that if his country refuses Russian oil, fuel prices there will rise by 55-60%, requiring the modernization of Hungary's energy system, which will cost 15-18 billion euros and take place over five years. The state expects compensation from the European Union. This was reported by Hungary Today and Reuters.
He reiterated that Hungarians should not “pay the price of the war in Ukraine” and said that the EU should practically and financially guarantee the absence of harm to the people and energy security of his country, which could be caused by the gradual ban on Russian oil.
According to Siyarto, 65% of oil consumption in Hungary is supplies from Russia. The minister stressed that the imposition of an oil embargo against Russia would have a “nuclear bomb effect on the Hungarian economy.”
for the functioning of its economy.
The Hungarian Foreign Minister also added that reaching an agreement on the embargo now depends on the European Union. He said Brussels had not yet suggested how it could compensate for the country's expected increase in fuel prices.
prices, which require a complete modernization of Hungary's energy structure of 15-18 billion euros, “said Siyarto.
Earlier, Hungarian Foreign Minister Peter Siyyarto hinted that Hungary would like to receive 700-750 million euros for its consent to the European Union's embargo on oil from Russia.
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