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Sanctions Against Russian Federation. Hungary Against Oil Embargo Even With Exception For It And Slovakia

The Hungarian government has said the European Union's plan to ban Russian oil altogether is unsatisfactory as it threatens Hungary's energy security.

According to European Pravda, it was reported by Bloomberg.

Hungary and Slovakia, heavily dependent on Russian energy, will be given time until the end of 2023 to implement sanctions, a year more than other member states, according to informed sources.

However, Zoltan Kovacs, the Secretary of State for Public Diplomacy and Relations of Hungary, said Hungary's concerns remained unresolved.

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"We do not see a single plan or guarantee in the current proposal to manage even the transition period, nor what would guarantee Hungary's energy security," he said.

The 27 EU member states will meet later in the day to discuss - and potentially approve - the proposal.

Earlier, the President of the European Commission presented the details of the sixth package of sanctions against Russia for its aggression against Ukraine.

She explained that the supply of crude oil from the Russian Federation will stop within six months, and the products of oil refining - by the end of the year.

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"So we are maximizing pressure on Russia while minimizing collateral damage to us and our partners around the world. Because to help Ukraine, our own economy must remain strong," she said.

As Ukrainian News Agency earlier reported, Hungary's Minister of the Prime Minister's Office Gergely Gulyas said that Budapest would veto any European proposal that would restrict energy imports from Russia.

Meanwhile, Germany agreed to support the embargo on Russian oil.

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