Hungarian Foreign Minister: Banning Russian gas imports will have disastrous impacts on Hungary’s economy

Hungarian Foreign Minister Peter Szijjarto has stressed that his country’s economy will collapse if gas imports from Russia stop within the European Union efforts to gradually give up dependence on these supplies.

Interviewed by the American “FOX News”, Szijjarto said that “stopping Russian gas imports will have disastrous impacts on our economy, not to mention the technical reforms of our refineries so they can refine other non-Russian kinds of oil and gas, which requires additional investments valued at 550 million euro.”

He added that the total value of  investment in such a process amounts to a billion euro, reiterating that with the complete absence of Russian oil it will be impossible for Hungary to import enough oil from other sources.

The European Union is preparing a sixth package of sanctions against Russia on the backdrop of its military operation to protect the population of Donbass. These sanctions include giving up Russia oil imports.

Reports indicate that approving this package of sanctions has been stalled due to some countries’s rejection of these sanctions, especially Hungary.   

 Hamda Mustafa