(Bloomberg) — Hungary asked the US for a waiver from recent sanctions so it can continue paying Russia for natural gas deliveries using Gazprombank.
The bank, which handles most payments for Gazprom PJSC’s gas exports, was sanctioned last month as US President Joe Biden’s administration steps up efforts to punish Moscow for its war in Ukraine.
Hungary, as well as other countries that rely on Russian gas imports, have warned the US decision poses a potential risk for energy security. Turkey has also sought a sanctions waiver.
Hungary’s Foreign Minister Peter Szijjarto met with Russian Deputy Prime Minister Alexander Novak and heads of major energy companies in Moscow on Monday to find a workaround.
The country also submitted a request to the US on Tuesday for a sanctions waiver, Szijjarto said at a briefing after meeting NATO foreign ministers in Brussels. He said earlier that Hungary also pays for nuclear energy fuel via the Russian bank.
“The head of the US diplomacy himself has indicated that they are willing to engage in some form of consultation with the allies on the issue of sanctions against Gazprombank,” Szijjarto said.
The foreign minister added the US pays for Russian uranium via banks that are exempt from sanctions, and Hungary is seeking a similar waiver for Gazprombank.
The European Commission said earlier this week that sanctions are not currently impacting flows of gas to the 27-nation bloc. The EU’s executive arm is analyzing the situation and reached out to affected companies and countries.
At the same time, the commission is working on a roadmap to phase out Russian fossil fuels, to be presented in the first quarter of next year. The share of Russian pipeline gas in EU imports fell to around 8% in 2023 from more than 40% in 2021.
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Publish date : 2024-12-04 08:49:00
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