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Hungary Backs Down: Budapest Drops Objections to EU Ban on Russian Gas Imports

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Photo of Liubava Petriv
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Hungary Backs Down: Budapest Drops Objections to EU Ban on Russian Gas Imports
Viktor Orbán, Hungary’s prime minister, at the $1.4 billion MOL Polyol plant inauguration in Tiszaújváros on May 14, 2024. (Source: Getty Images)

Hungary agreed to the inclusion of a ban on Russian liquefied natural gas in the European Union’s new sanctions package, The Moscow Times reported on October 9, citing EUobserver.

At an EU ambassadors’ meeting on October 8, Hungary’s representative did not raise any objections to the measure, despite the country previously seeking exemptions from such sanctions.

With Hungary on board, the main obstacles to finalizing the EU’s 19th sanctions package remain Slovakia and Austria. Austria reportedly insists on including a provision to unfreeze $2.3 billion in Russian assets, intended to compensate Raiffeisen Bank International following a payout ordered by a Russian court.

Bratislava, meanwhile, opposes the introduction of new restrictions, arguing that EU climate policies are harming Slovakia’s automotive industry.

Spain noted that the EU needs “better coordination” between its plans to phase out fossil fuels and its sanctions policy toward Russia. However, the statement did not constitute a veto nor contain concrete proposals.

“I didn’t quite understand what Spain wants,” admitted one EU diplomat present at the meeting.

Other provisions of the new sanctions package have already been informally agreed upon. These include measures targeting at least 31 individuals and entities involved in supporting Russian aggression against Ukraine, as well as the addition of more than 120 oil tankers from Russia’s shadow fleet to the sanctions list.

Additional restrictions are also planned for the Russian banking sector.

Earlier, EU ambassadors have agreed on a plan for the gradual reduction of Russian oil and gas imports, aiming for full implementation by January 2028.

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