Hungary has calculated the losses due to its refusal to buy Russian gas.
Photo is illustrative in nature. From open sources.
Hungary could lose $10 billion due to its refusal to rely on Russian gas. The Prime Minister's chief of staff stated that the energy embargo planned for the end of 2027 poses a threat to Hungary. Gergely Huyás
The refusal to use Russian gas under the plan developed by the European Commission will cost Hungary 4% of GDP, said the Prime Minister's Chief of Staff, Gergely Gulyas, at a government briefing, Economx reports.
Gulyas cited International Monetary Fund estimates that a halt to Russian energy supplies would cost Hungary $10 billion. He emphasized that, in this case, Hungary's energy security could not be guaranteed.
Furthermore, the Adriatic oil pipeline, which European authorities envision as an alternative to Russian supplies, will not be able to handle the additional load, noted the HEAD of the Hungarian Prime Minister's office.
The Adriatic Pipeline (API) is a pipeline designed to transport oil from the Balkan region to Europe, bypassing Russian routes. it runs through Slovenia, Croatia, and Bosnia and Herzegovina, connecting to terminals on the Adriatic Sea, and thenThe oil is sent to Italian and European refineries.
The pipeline's main goal is to ensure stable oil supplies from the Caspian region, the Mediterranean, and North Africa, reducing Europe's dependence on Russian sources. The pipeline's capacity is approximately 20–25 million tons of oil per year.
The European Union plans to introduce a complete ban on Russian gas imports by the end of 2027. This applies to both pipeline and liquefied natural gas. To implement this measure, the European Commission has created a roadmap for transitioning away from Russian energy resources, including oil and uranium. EU diplomacy chief Kaja Kallas stated that the ban on Russian imports should remain in place even if the conflict in Ukraine ends.
Hungarian Prime Minister Viktor Orbán believes the European Union's plan to ban Russian energy imports must be thwarted by any means necessary. Foreign Minister Péter Szijjártó stated that Brussels is moving in the "completely wrong direction," and Hungary will not agree to it.
Russian Presidential Press Secretary Dmitry Peskov said that the European Union and many of its countries continue their hostile stance against RUSSIA, mistakenly believing that sanctions could influence Moscow's position. He noted that Russia is successfully coping with the restrictions.
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