BUDAPEST Feb 4 Russian oil products and therefore, after the entry into force of restrictions on February 5, it will still be able to process Russian oil domestically, but in the long term, the consequences of new anti-Russian sanctions may also affect Hungary, the country's energy ministry said.
«As you know, the government for Hungary has achieved a temporary exemption from the sanctions on the supply of oil coming through the pipeline, so in the future it will still be possible to process and distribute products of Russian origin within the country, however, it is possible to trade with other countries only products of non-Russian origin,» the statement says. in a released statement from the ministry.
The Ministry of Energy explained that after the entry into force of restrictions on Russian oil products on February 5, only oil products from oil of non-Russian origin can be exported from the subsidiary refinery of the Hungarian company MOL in Bratislava to other countries, including Hungary. The company previously reported that the share of non-Russian raw materials at the Slovak plant is 30%.
«However, in the long term, the consequences of the new sanctions restrictions, which are now coming into force, may also affect Hungary. For a stable supply of fuel to Hungary, imports are necessary, therefore, an increase in fuel prices in Europe due to sanctions may also affect Hungary,» the source said. ministry.
Earlier, the EU introduced the eighth package of anti-Russian sanctions, which includes both new economic restrictions and expanded lists of personal sanctions. Among the economic sanctions is the introduction of a legislative framework for determining the price ceiling for sea transportation of Russian oil to third countries.
In response, the Russian Federation banned the supply of Russian oil and oil products if the contract directly or indirectly provides for a price ceiling. At the same time, the presidential decree allows for the possibility of issuing special permits.
The West has stepped up sanctions pressure on Russia because of Ukraine. Russian President Vladimir Putin has previously stated that the policy of containment and weakening of Russia is a long-term strategy of the West, and sanctions have dealt a serious blow to the entire global economy. According to him, the main goal of the West is to worsen the lives of millions of people. The Russian Federation has repeatedly stated that Russia will solve all the problems that the West creates for it.