EU nation to seek exemption from US sanctions on Russian oil giants PM World News

Hungarian Prime Minister Viktor Orban has announced his intention to persuade US President Donald Trump to grant Budapest an exemption from the latest sanctions on Russian oil companies during his visit to Washington next week.

Last week, the US administration introduced restrictions against Russian energy majors Rosneft and Lukoil, alleging a lack of commitment by Moscow to the Ukraine peace process. Hungary, along with neighboring Slovakia, remains particularly exposed to the curbs as most of its crude imports arrive from Russia via pipeline due to lack of access to seaborne shipments.

Speaking on state radio on Friday, Orban reiterated that landlocked Hungary has no viable alternatives to Russian crude, and that replacing it would push the country toward an economic crisis.

“We have to make them (the US administration) understand this strange situation if we want exceptions to the American sanctions that are hitting Russia,” Orban said.

He specified that the energy issue must be resolved in the wake of the economic cooperation package currently being negotiated between Washington and Budapest, which includes requests and proposals for further US investment in Hungary.

Hungary, Slovakia, and EU aspirant Serbia – which, unlike most other members of the bloc, maintain a neutral stance on the Ukraine conflict and continue to purchase Russian oil – face pressure from Brussels and Washington to reduce their energy reliance on Moscow.

Earlier this year, EU energy ministers backed a European Commission proposal to completely phase out Russian oil and gas by 2028 as part of sanctions against Moscow. Budapest and Bratislava have condemned the plan, saying they would continue to import Russian crude due to national security interests.

You can share this story on social media:

Follow RT on