The new measures will reduce the ability of member states to deal with unexpected supply problems quickly and at low cost.Continue reading
New sanctions threaten European energy and fuel security, the Energy Ministry warned in a statement. Hungary has won exemption, but there can be consequences in the longer term.
On Sunday, new EU sanctions concerning energy came into force, the Energy Ministry informed Hungarian news agency MTI in a statement.
The European Union decided to restrict imports of Russian oil in the sixth package of sanctions in the summer of 2022, and it came into force in two stages. For crude oil, the import ban came into effect at the beginning of last December, followed on February 5 by a ban on imports of processed petroleum products of Russian origin (e.g. petrol, diesel) and re-exports between member states.
According to the ministry, the EU sanctions are harmful, have not ended the war and are causing great damage to Europe. “Brussels should not be concerned with imposing new sanctions, but should rather work on peace-building,” they added.
Hungary has been granted a temporary exemption for oil shipments by pipeline, so that it will still be possible to process and market products of Russian origin domestically, but trade with other countries will only be possible with products of non-Russian origin, the ministry explained. For example, the sharpening of the stricter sanctions will impose partial restrictions on petroleum products processed at the Bratislava refinery.
The new restriction can also have longer-term consequences for Hungary. As Hungary needs imports to ensure a sustainable fuel supply, the increase in European fuel prices due to the sanctions could also have a knock-on effect on Hungary, the ministry added.
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