In the event of a disruption to the Friendship oil pipeline, not only would Hungary’s oil supply suffer but there would be “grave consequences” for the entire region, including Ukraine, according to an energy analyst for think-tank Századvég.
An adviser to Ukraine’s energy minister recently warned that “something could happen” to the pipeline “at any time”.
Olivér Hortay said in an interview to public radio on Friday that
Ukraine would lose transit revenues and major energy transit resources.
He noted that Ukrainian politicians were intent on forcing the European Union, including Hungary, to block Russian energy exports, adding that an embargo would prove counterproductive and even serve to boost Russia’s sales revenues. Households in the European Union, meanwhile, faced growing economic harm, and
an embargo would result in even more drastic price increases,
he added.
Hortay said Hungary had notched up a big win by blocking the EU from discussing a sixth sanctions package at the EU summit, adding that it was in the fundamental interest of both Hungary and the EU as a whole to ditch the embargo proposal once and for all.
Read also Sanctions benefit USA, Russia, hurt Europe?
Source: MTI
6 Comments
… Except for the fact the entire EU seems to disagree with Hungary’s assessment regarding more sanctions.
Appears we are Mr. Putin’s Trojan Horse in the European Union – so, technically, it is HIS win (credit where credit is due!)
The Ukraine/Russia war will not last forever. Eventually, sanctions will be lifted. There is no way the US, under the Biden Administration, will be able to compensate all EU countries with oil/gas. The oil/gas embargo is a short sighted action. If Russia establishes new partners for its use of oil/gas, it may never return to supply the EU. This will cause great hardship to manufacturers as well as the people. It would be much better if the EU and US would work on a cease fire and a possible peace deal instead of supplying Ukraine with weapons. The longer the war lasts the more cities are destroyed, people killed and famine in other parts of the world.
By the way, the green energy supply is a failure so far.
Russia now appears to be diverting their oil to China – displacing Iran. Iran may want to make a deal…
Waiting for a war to end could take a while, the Soviet-Afghan War took 10 years (1979-1989)
Several EU members buy Russian energy, including Germany. Why focus on Hungary?
The US/Afghan war lasted 20 years. If Ukraine is not careful, the US will ship weapons to Ukraine for the next 20 year. The US can afford to have Ukraine’s proxy war for the next 20 years.
The war may come to destroy the pipeline in Ukraine: why block the decision of the EU to ensure that the pipeline remains for years after the war in Ukraine is over? If Russia continues the war in Ukraine and wins, the pipeline to Hungary would be destroyed anyway. Funding is provided to Russia by means of buying its oil and gas. Hungary wants to free ride on the EU’s decision but forgets about the risks of war completely