Hungary is working on how to circumvent US sanctions against Russian oil companies - Orban
Kyiv • UNN
Hungarian Prime Minister Viktor Orbán said that the country is working on how to circumvent US sanctions against Russian oil companies Lukoil and Rosneft.
Hungary is working to find a way to circumvent US sanctions against Russian oil companies, Prime Minister Viktor Orbán said on Friday, without providing details or giving any indication that he plans to ignore the restrictions. This was reported by Reuters, writes UNN.
Details
As the publication notes, US President Donald Trump, a close ally of the Hungarian leader, on Wednesday for the first time in his second term imposed sanctions against Russia, targeting "Lukoil" and "Rosneft" in an attempt to force Moscow to agree to a ceasefire in Ukraine.
Trump's move led to a rise in oil prices and left a number of questions for Hungary and Slovakia — the largest buyers of Russian oil in the EU after receiving exemptions from EU restrictions.
Orbán said he discussed the situation with the Hungarian oil and gas company MOL.
"We are working on how to circumvent these sanctions," he said in an interview with state radio Kossuth.
MOL refineries in Hungary and Slovakia, with a total refining capacity of 14.2 million tons of crude oil per year, depend on Russian oil transported via the Druzhba pipeline.
MOL's Slovak subsidiary, Slovnaft, said on Thursday that it is analyzing the possible impact of US sanctions on its operations, which are due to take effect later in November.
The publication also notes that last year MOL faced supply problems after Ukraine imposed sanctions against "Lukoil." The company concluded agreements to purchase oil volumes at the Belarus-Ukraine border to ensure the continued flow of supplies.
Recall
The United States Department of the Treasury on October 22 officially imposed sanctions against leading Russian oil companies "Rosneft," "Lukoil," and their subsidiaries. The US called on Moscow to "immediately" agree to end the war against Ukraine.
On October 23, Vladimir Putin stated that the new US sanctions are serious but will not affect the Russian economy. He called them an attempt at pressure and an unfriendly act that does not strengthen Russian-American relations.
Donald Trump reacted to these words. He ironically noted that he was glad to hear about the dictator's "confidence" but noted that he would prefer to see how Russia copes with them.
Also, UNN reported that Donald Trump continues to put equal pressure on both Russian dictator Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.