ADVERTISEMENT

Hungary Gets Exemption From Price Cap on Russian Crude

Energy Trade

Hungary has won an exemption from a price cap on Russian crude, Minister of Foreign Affairs and Trade Péter Szijjártó said in a post on Facebook on Saturday. 

"We fought hard for Hungarian interests at the negotiations [...] and were finally successful: Hungary got an exemption from the application of the oil price cap," Szijjártó said. 

"Now is the time for Brussels to see that this and similar measures are [more] painful for the European economy," he added. 

On Friday, in line with a unanimous decision by European Union member states, the G7 and Australia reached a consensus on capping the price of Russian seaborne crude at USD 60 per barrel. Hungary, a landlocked country, gets its Russian oil via pipeline.

Hungary C/A Surplus at EUR 838 mln in May Debt

Hungary C/A Surplus at EUR 838 mln in May

AgMin Outlines Agricultural Priorities of Hungarian EU Presi... EU

AgMin Outlines Agricultural Priorities of Hungarian EU Presi...

AutoWallis’s Retail Sales See Continued Growth Automotive

AutoWallis’s Retail Sales See Continued Growth

Verzió DocLab Calls for Submissions, Offers HBO Development ... Art

Verzió DocLab Calls for Submissions, Offers HBO Development ...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.