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Reuters
Reuters
Business

Hungary still has no acceptable proposal from EU on Russia oil sanctions -minister

United Nations European Union Hungary Oil United States Commission Russia European Commission Facebook Peter Szijjarto
FILE PHOTO: Hungary's Foreign Minister Peter Szijjarto addresses the 76th Session of the United Nations General Assembly, at the U.N. headquarters in New York, U.S., September 23, 2021. Mary Altaffer/Pool via REUTERS

Hungary has not received any new serious proposal from the European Commission regarding oil sanctions on Russia since a visit of the Commission president to Budapest earlier this month, Hungary's foreign minister said on Monday on his Facebook page.

"The European Commission has caused a problem with a proposal so its a rightful expectation from Hungary... that the EU should offer a solution: to finance the investments and compensate for ... the (resulting) price rises which necessitates a total modernisation of Hungary's energy structure in a magnitude of 15-18 billion euros," Peter Szijjarto said.

He said another solution would be to make oil shipments via pipeline exempt from the planned embargo.

(Reporting by Krisztina Than; editing by Jason Neely)

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