Hungary is scrambling to find ways to avoid power outages and fuel shortages after Ukraine imposed a partial ban on Russian oil transit through its territory. Last month, Kyiv imposed sanctions, blocking the transit of crude oil through a pipeline used by Lukoil, Russia's largest private oil company, to supply Central Europe. This was reported by Politico, according to UNN .
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Ukraine's goal is to deprive the Kremlin of a key source of revenue used for military purposes two years after the full-scale invasion of the country. However, the move has raised concerns in Hungary about possible supply shortages. Budapest receives 70% of its oil imports from Russia, half of which is supplied by Lukoil.
Ilona Gizinska, an expert from Hungary at the Center for Eastern Studies, expressed concern, warning of the possibility of high energy prices and electricity shortages within “a few weeks” if alternative solutions are not found.
Analysts at the Center for Energy and Clean Air Research noted that in April alone, Hungary spent almost a quarter of a billion euros on Russian oil and gas.
On Friday, Hungary's chief diplomat Peter Szijjarto said that Ukraine's measures could jeopardize the country's long-term energy security, criticizing Kyiv for imposing them. He noted that Hungary has started talks with Moscow to find alternative sources of Russian oil supplies.
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