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,
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.