The head of the country’s Foreign Ministry believes that such restrictions harm the European economy.
Hungary was freed from the need to adhere to the “price ceiling” for Russian oil.
As the Minister of Foreign Affairs of Hungary Péter Szijjarto stated on Facebook , during the negotiations with the EU on the maximum price for oil, the country’s representatives “stoughly fought for the interests of Hungary”.
“In the end, we succeeded: Hungary was freed from the oil price cap. By doing it again, we managed to protect the security of our country’s energy supply,” the Foreign Minister announced.
Sijarto also stated that the introduction of a price ceiling for Russian oil and similar measures supposedly “harm the European economy the most.”
“Price ceiling” for Russian oil
On December 3, the Council of the European Union set the ceiling price for oil from Russia at $60 per barrel. It will be used from December 5. Earlier, the head of the European Commission, Ursula von der Leyen, said that this would significantly reduce Russia’s income. The G7 countries and Australia also agreed to introduce a similar oil price cap .
Some European countries emphasized that they do not consider price restrictions to be a sufficiently effective means of reducing the income of the aggressor country. .
The President of Ukraine, Volodymyr Zelenskyi , also did not support this decision . According to him, “you cannot call it a serious decision to set such a limit for Russian prices, which is quite comfortable for the budget of a terrorist state.”
(c)UNIAN 2022
“stoughly fought for the interests of Hungary”. Aka Russia.
So, as I understand it, the morons in Budapest want to pay more for ruskie oil.
The EU should change its name to European Disunity.
I actually think it doesn’t matter, as from 5 December onwards Russian oil is banned in the entire EU.
And even if Hungary is exempt, how do they think they can get it?
This cap is only relevant for European / G7 tankers transporting Russian oil, that will not get insurance if they carry Russian oil bought at a higher price.
As I do not think Hungary has a lot of tankers and other infrastructure and more importantly, insurance companies, the effect of this will be fairly minimal.
I think this is done more as a signal to Putin from Hungary and for domestic purposes rather than something that has any practical implications.
I also think Poland is mistaken on 60 dollars being a high price: the production costs of Russian oil are increasing as they cannot receive spare parts for the already aging equipment in the oil sector and cannot ship Russian oil through Europe where the majority of all pipes are.
So yes, I agree, the lower the better, but I think at 60 dollars Russia is not making any profit, as transport costs are really high.
Don’t get me wrong: I would have preferred 0 dollars.
But I do think the G7 thought about this cap quite well: if they would outright ban Russian oil being transported using Western tankers, the oil price would rise a lot which benefits Russia.
Liked Sir Veth’s, Sir OFP’s, and Sir Bert’s comments.
“I think this is done more as a signal to Putin from Hungary and for domestic purposes rather than something that has any practical implications.”
I agree. However, the EU relenting to Hungary is a very poor signal to both Hungary and mafia land, regardless if this has any implications. It’s just another example of giving in to filth.