"The point is not to have Russian gas at a better price, but for there to be Russian gas in Hungary, and this cannot be compromised," according to Viktor Orbán.Continue reading
MEPs from Hungary’s ruling Fidesz party will vote against a proposal for an embargo on oil, gas, and nuclear fuel imports from Russia, Fidesz MEP Kinga Gál said Thursday. Such a measure would “destroy the Hungarian economy” and make Hungarian families pay the price of war, the politician said on Facebook. The EU may decide on the new sanctions package against Russia by next Monday at the latest.
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Such a measure would “kill the Hungarian economy” and would make Hungarian families be the ones to pay the price of war, Gál said on Facebook.
“We stand by Ukraine’s territorial integrity and sovereignty, we condemn Russian aggression, and therefore in the interest of European unity we will support the EP resolution in the final vote,” said Hungarian MEP Kinga Gál in a video posted on her Facebook page. “We do all this while rejecting proposals in the European Parliament and all other European institutions to impose an embargo on gas, crude oil, and the peaceful use of nuclear energy.”
The EU’s new sanctions package against Russia could be approved by the Foreign Affairs Council as early as Thursday or Friday by written procedure or at its meeting on Monday, EU High Representative for Foreign Affairs and Security Policy, Josep Borrell said. The ban on Russian coal imports is expected to take effect in mid-August, a month later than originally planned. The date was postponed at Germany’s request, Reuters reported.
The EU Commission proposed the fifth package of sanctions against Russia on Tuesday in light of atrocities committed by Russian forces in Bucha and other areas.
At this critical point in the war, we must increase pressure on Putin and the Russian government. That is why we propose to further tighten our sanctions,”
stressed the President of the Commission before the European Parliament. The fifth sanctions package is based on six pillars and includes, among others, an import ban on coal from Russia.
On the content of the fifth sanctions package, von der Leyen stated (source: germany.representation.ec.europa.eu)
First, impose an import ban on coal from Russia, whose imports are worth 4 billion euros annually. This is the first time that we directly sanction imports of fossil fuels from Russia, and therefore, we hit an important source of revenue for the country.
Second, a complete ban on transactions against four major Russian banks, including VTB, Russia’s second-largest bank. These four banks, which we are now cutting off completely from the markets, have a 23 percent market share of the Russian banking sector. This further weakens Russia’s financial system.
Third, the ban on Russian ships and Russian-operated ships from calling at EU ports. In addition, we propose to impose a ban on Russian and Belarusian road transport companies. This ban will drastically limit the ability of Russian industry to obtain key goods.
Fourth, further targeted export bans worth 10 billion euros in areas that affect Russia sensitively. These include quantum computers and advanced semiconductors, but also sensitive machinery and transport equipment. This will further weaken Russia’s technological base and industrial capacities.
Fifth, targeted new import bans of 5.5 billion euros on products ranging from timber to cement, seafood to alcoholic beverages, to cut off the financial flows of Russia and its oligarchs. This is also how we close loopholes between Russia and Belarus.
Sixth, we are taking a number of very targeted measures – for example, a general EU ban on the participation of Russian companies in the award of public contracts in the member states and the exclusion of any financial support from the Union or its member states to Russian public institutions. After all, European taxpayers’ money should not flow to Russia – in any form whatsoever.
Last but not least, we also propose to sanction other individuals close to Putin and his inner circle of leaders. These sanctions are tough because they limit the Kremlin’s political and economic options. They are smart because they hit Russia far harder than they hit us. And, these sanctions will not be our last.”
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