Hungary exempted from application of Russian oil price ceiling

Brussels needs to realize that such measures harm the European economy,considers Hungarian Foreign Minister Peter SzijjártóHungarian Foreign Minister Peter SzijjartoHungarian Peter SzijjártóHungarian Peter Szijjártó

Hungary has achieved an exemption from the application of the Russian oil price ceiling , which was previously agreed by the G7 countries, the EU and Australia, said Foreign Minister Peter Szijjártó.

Western countries have set a price ceiling for Russian oil.What does it mean Business

“During the negotiations on the oil price ceiling, we fought a lot for the interests of Hungary and in the end we succeeded: Hungary was exempted from the application of the oil price cap,” the HEAD of the Hungarian Foreign Ministry wrote on his FACEBOOK page (owned by Meta, whose activities in RUSSIA recognized as extremist and banned).

He also expressed the opinion that it is "long overdue" for Brussels to realize that such measures harm the European economy. According to Szijjártó, it is necessary to increase the supply of energy carriers, as this can reduce prices.

In early December, the European Union agreed to introduce a cap on Russian oil at $60 per barrel. A similar decision was made by the G7 countries ( usa , CANADA, France, Germany, Italy, Japan and the UK) and Australia.

The G-7 states announced their decision to impose cap prices on Russian oil in September. In October, this measure was included in the eighth package of EU sanctions against Russia. It took European countries more than a week to agree on what the ceiling would be. Poland, for example, advocated that the limit be at the level of $30, and countries with developed shipping, including Greece and Malta, did not want to lower the ceiling below $70.

Russian President Vladimir Putin has previously said that Moscow will not supply energy to countries that make political decisions that contradict the terms of the contracts. After the Western countries agreed on the limit, Putin's press secretary indicated that Russia would not accept a price ceiling for Russian oil.

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