'No short-term replacement' for Russian energy imports - Kovács
Image by FOTOGRIN / Shutterstock.hu
Zoltán Kovács, the government's international spokesman, said Hungary can't replace the gas and oil it imports from Russia in the short term in an interview broadcast on the UK's BBC Radio 4 on Monday evening, according to a report by state news wire MTI.
Kovács said there would be "no alternatives" to Russian gas and crude for the country for the coming 3-5 years.
He added that all proposals on sanctions extending to Russian energy that the Hungarian government had seen so far would cause the Hungarian economy to grind to halt.
He noted that 65% of landlocked Hungary's crude and 85% of its gas comes from Russia, via pipeline. That can't be changed in a couple of months, he added.
Kovács said a compromise on European Union sanctions against Russia needs to be mutually acceptable and based on the principle of cooperation as well as practical solutions.
The economy can't be fuelled, petrol tanks can't be topped up and homes can't be heated with ideology, he added.
Asked whether Hungary isn't financing the war in Ukraine by buying Russian oil and gas, Kovács said finger-pointing shouldn't be directed at Hungary as nearly all European countries are paying for Russian energy for lack of alternative sources.
Lenders' Home Loan Outlays at HUF 344 bln in H2 2023
Gov't Awards HUF 6.5 bln of Subsidies to SMEs in Underdevelo...
Hungary's Largest ESG Consultancy Formed by Merger of EY, De...
Hungary Launches HUF 15 bln Tourism Sector Support Program
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.
