Hungary Gets Sanctions Exemptions for Crude, Nuclear Energy

Ukraine Crisis

Péter Szijjártó

Image by irena iris szewczyk / Shutterstock.com

Hungary has successfully negotiated exemptions from European Union sanctions for pipeline deliveries of Russian crude and emergency replacement seaborne deliveries, as well as for nuclear energy, Minister of Foreign Affairs and Trade Péter Szijjártó said in a video message posted on Facebook early Wednesday.

Szijjártó said a meeting of the heads of mission from European Union member states had discussed the European Union's eighth package of sanctions against Russia late into the evening in Brussels on Tuesday.

"We've successfully managed to get an exemption for pipeline deliveries of crude from the price cap mechanism and for emergency seaborne deliveries...if pipeline deliveries are not possible for extraordinary reasons," he said.

He added that services and products necessary for the operation of existing nuclear power plants as well as for new ones would also be exempted from sanctions.

He called the construction of two more blocks at Hungary's Paks nuclear power plant a "cornerstone" of Hungary's secure energy supply and noted that the plant's existing four blocks account for half of the country's electricity generation.

Szijjártó said the exemptions would be finalized and cleared in Brussels later on Wednesday.

In a post on Facebook late Tuesday, Szijjártó outlined the exemptions Hungary had "firmly negotiated" at the Coreper meeting. He noted an exemption, too, for any institute important to cooperation in nuclear research and development.

"Sanctions that would harm Hungarians have been successfully blocked again," he said.

Policymakers Cut Central Bank Base Rate by 50 bp to 7.75% MNB

Policymakers Cut Central Bank Base Rate by 50 bp to 7.75%

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

Special Effects Expands Portfolio With Acquisition of Creati... Deals

Special Effects Expands Portfolio With Acquisition of Creati...

Hungary Launches HUF 15 bln Tourism Sector Support Program Tourism

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.