* . * . . .
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
Saturday, May 31, 2025
Love Europe
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
Love Europe
No Result
View All Result
Home Hungary

Hungary Names Price Tag For Abandoning Russian Oil – Belarusian News

November 22, 2024
in Hungary
Hungary Names Price Tag For Abandoning Russian Oil – Belarusian News
Share on FacebookShare on Twitter
ADVERTISEMENT

Budapest decided to bargain with the EU.

Hungary’s refineries could be “ready to work without Russian crude by the end of 2026”, but only on condition of compensation from the EU in the amount of “a couple of hundred million dollars”, as György Bacsa, executive vice president for strategic operations at MOL group, told Politico.

According to him, MOL is ready to diversify its supplies until 2027, when the EU will officially stop buying Russian oil, but this will require additional expenses of $500 million, “a couple of hundred million” of which the EU should allocate. Such an amount, as Basca noted, is necessary for the re-equipment of Hungarian refineries that process Russian grades of oil.

However, he pointed out that due to EU restrictions, MOL’s profits are now zero. “We get zero because it’s refining, so it’s not eligible for any aid from the EU even if it’s about decoupling from sourcing, even if it’s about supply security,” he said. “So we do it at our pace and at what we can afford,” Basca underlined.

Bacsa said he is concerned the EU will either set a concrete end date, or take more punitive measures in the interim. He added the firm would renew the long-term contract with Lukoil (expiring in June 2025) “if it’s legally doable”.

Hungary, Slovakia, and the Czech Republic are excluded from the pan-European ban on oil imports from Russia, which was introduced after the start of the Russian war in Ukraine. At the end of June 2024, Kyiv restricted the transit of LUKOIL oil through Ukrainian territory, but Rosneft and Tatneft supplies via the Druzhba pipeline continued. Hungary and Slovakia promised to go to court and asked the European Commission to urge Ukraine to reverse this decision, but were refused.

The European Commission noted that Hungary and Slovakia managed to compensate for the interrupted supplies. They also did not see any possible risks associated with the supply. EU Trade Commissioner Valdis Dombrovskis advised Budapest and Bratislava to refuse oil from Russia and look for alternative sources.

PATREON
Support the website

You can support the website Charter97.org

Donate with PayPal

MULTI-CURRENCY ACCOUNT FOR ASSISTANCE:

Bank’s name: Bank Millennium S.A.
Address: ul. Stanislawa Zaryna, 2A, 02-593, Warszawa
IBAN: PL97116022020000000216711123
SWIFT: BIGBPLPW
Name of the account holder: Fundacja “KARTA ‘97”
Purpose/title of payment: Donation for statuary aims

You can contact us by the e-mail [email protected]

Follow Charter97.org social media accounts

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=674027b301484f43810071df47c9af0c&url=https%3A%2F%2Fcharter97.org%2Fen%2Fnews%2F2024%2F11%2F20%2F619562%2F&c=1646166472972431301&mkt=de-de

Author :

Publish date : 2024-11-20 08:14:00

Copyright for syndicated content belongs to the linked Source.

Tags: EuropeHungary
ADVERTISEMENT
Previous Post

Former Portuguese president fears global conflict, particularly worrying for Europe – Euractiv

Next Post

Inside Europe’s ‘zone of fear’ where people face kidnap and death without warning | World News

Related Posts

Hungary

Netanyahu to Go to Hungary in Defiance of ICC Arrest Warrant – NTD Information – EUROP INFO

Hungary

Germany Set to Punish Hungary Amid Coordinated Professional-Warfare Assaults – Hungarian Conservative – EUROP INFO

Hungary

Orban’s meals value cap takes intention at overseas retailers in Hungary – Shelbynews – EUROP INFO

ADVERTISEMENT

Highlights

Trump Ramps Up Fierce Criticism of Putin as Ukraine Conflict Escalates – EUROP INFO

Challenges and Insights – EUROP INFO

Spain Demands Talks Over Gibraltar as Keir Starmer Pursues EU Deal – The Dispute Isn’t Over Yet! – EUROP INFO

Circle K Launches Sweden’s First EV-Only Store, Revolutionizing the Charging Experience – EUROP INFO

Türkiye Aims to Host High-Level Summit to Advance Peace in Ukraine – EUROP INFO

Categories

Archives

November 2024
MTWTFSS
 123
45678910
11121314151617
18192021222324
252627282930 
« Oct   Dec »
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2024 Love-Europe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version