Minister: Hungary prepared to handle Ukrainian pipeline disruptions
The Hungarian government is prepared to handle disruptions of crude deliveries via the Druzhba pipeline due to Russian missile attacks on Ukraine’s energy grid, the foreign minister said on Wednesday, adding that the disruptions would not impact the security of the country’s oil supply.
The disruptions are caused by damage done to the Ukrainian systems powering the pipeline, Péter Szijjártó said after meeting key energy sector representatives, according to a foreign ministry statement. He added that repairs one the pipeline are constantly being carried out. Szijjártó said the sanctions imposed by the European Union because of the war were “only aggravating the situation”, arguing that “these obviously unsuccessful measures” had led to an energy crisis and were “hurting Europe more than those they have been imposed on”.
Concerning Thursday’s scheduled meeting of EU energy affairs ministers, Szijjarto, referring to proposed price caps on oil and gas imports, said it appeared that “Brussels has put forward more inadequate proposals that will cause problems for Europe”. He said this plan was a “dangerous and bad idea”, arguing that it would cause further problems on the European energy market. The minister said he will make Hungary’s position on the matter clear at the meeting.
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“We’ll be fighting tomorrow in Brussels and then over the course of the legislative procedure in the coming weeks to ensure that Hungary gets exemptions from the implementation of both the cap on gas prices and the cap on oil prices,” Szijjártó said. Hungary buying its oil from Russia is “not some sort of political statement”, he said, adding that this was the only way currently to guarantee the security of the country’s oil supply. This was why, Szijjártó noted, Hungary had fought for the exemption of pipeline deliveries of Russian oil from the EU’s embargo.
Szijjártó said that this time he will fight for the exemption of pipeline crude deliveries and long-term gas supply agreements from the price caps.
“If we can achieve these . then Hungary’s energy security will remain intact,” the minister said.
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Source: MTI
Mr. Szijjártó, always “fighting” against something… Now for the facts – Russia sanctions are biting hard:
https://tradingeconomics.com/forecast/gdp-annual-growth-rate?continent=europe
“Russia’s gross domestic product shrank by 4% year-on-year in the third quarter of 2022, in line with forecasts by the Central Bank of Russia, according to a preliminary estimate. The result extends the 4.1% contraction from the second quarter, as the Russian economy continued to be pressured by the sanctions from Western states in retaliation to its invasion of Ukraine in February. Looking forward, the central bank forecasts the Russian economy to contract by 7.1% year-on-year in the fourth quarter, as natural gas exports to major consumer Europe have nearly halted and seaborne oil shipments are set to be heavily sanctioned in December. The central bank expects the Russian GDP to contract 3%-3.5% for the full 2022, while the Ministry of Economic Development projects the GDP to fall by 2.9%”