Hungary FM claims country can’t survive without Russian oil
Date
9/18/2024 8:44:14 AM
(MENAFN) Hungary's Foreign Minister, Peter Szijjarto, has issued a stark warning regarding the country's reliance on Russian oil, emphasizing that without these supplies, Hungary's energy security and overall functionality are at serious risk. His comments come in the wake of Ukraine's recent decision to halt the transit of crude oil supplied by the Russian energy company Lukoil through the Druzhba pipeline, a move implemented in June due to ongoing sanctions.
This suspension has had a significant impact on landlocked Hungary, as well as Slovakia, which previously depended on oil exports that traversed Ukrainian territory. Szijjarto made it clear that without Russian oil, Hungary would struggle to meet its fuel demands. He explained that the nation lacks sufficient alternative infrastructure to compensate for the loss of these critical supplies.
In an interview with the Russian business publication RBK, Szijjarto elaborated on the gravity of the situation, stating, "We will not be able to feed the country in a broad sense. We simply will not be able to meet the demand for fuel." He emphasized the need for careful consideration of the statistics surrounding Hungary's energy imports, cautioning against the risks associated with the current geopolitical climate.
The implications of Ukraine's decision are particularly pronounced for Hungary, which relies on Russian oil for approximately one-third of its imports. For Slovakia, the stakes are even higher, with Russian supplies accounting for about 40 percent of their oil imports.
Historically, Ukraine has imposed sanctions on Lukoil since 2018, which included banning the company from divesting its operations in Ukraine and prohibiting various trade activities. However, the southern arm of the Druzhba pipeline, which transports oil to Hungary and Slovakia, had continued to operate, as European Union sanctions did not specifically target these flows.
As Hungary grapples with this pressing energy challenge, the future of its oil supplies remains uncertain. The situation underscores the broader complexities of energy dependence in Central and Eastern Europe and the ongoing repercussions of geopolitical tensions on regional stability.
MENAFN18092024000045015687ID1108687800
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.