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Energy ministry: New sanctions ban re-export of Russian oil products

The new European Union sanctions will ban the import and re-export of Russian oil products from Sunday, but Hungary's exemption from the former and various alternative resources will ensure the country's energy security, the energy ministry said on Saturday.

Thanks to Hungary’s government, pipeline deliveries received exemption when Russian crude imports were restricted in the summer of 2022, the ministry’s statement said. The ban on the import of oil products and on the re-export between member states will impact Hungary’s trade with other member states and its purchases from the Bratislava refinery, the statement said.

The country’s energy security continues to be ensured through domestic production and imports through the Friendship and Adria pipelines, as well as other imports, it said.

At the same time, the consequences of the sanctions may result in rising energy prices in Europe and then in Hungary, it said. Since Russia supplied about half of Europe’s diesel imports, Europe is expected to face diesel shortages and rising prices of oil products, the statement said. It will probably have to resort to imports from India, the Middle East and China, it said.

Meanwhile, the EU is mulling further sanctions on nuclear energy and gas imports, the ministry said. Hungary’s government continues to oppose them, as the restrictions have failed to end the war but hit European consumers with rising prices, and energy crisis and supply chain issues. The failed sanction policy is pushing Europe towards a crisis, and harms member states, companies and families, the statement said.

In the latest National Consultation survey, 97 percent of Hungarians “said no to sanctions”, and it is time their voice should be heard in Brussels too, the statement said.

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