MOSCOW (Pakistan Point News / Sputnik - 11th May, 2022) The European Union is considering providing financial assistance to Hungary in order to gain Budapest's support on the matter of banning Russian oil imports, US website Politico reported on Tuesday, citing EU officials.
Last Wednesday, European Commission President Ursula von der Leyen presented the sixth package of sanctions against Russia. Among other points, it suggested banning Russian oil imports. The package needs to be unanimously approved by member states to take effect.
According to the news outlet, the latest draft of the new sanctions package allows Hungary and Slovakia to introduce the oil embargo two years later than the rest of the bloc, i.e. in 2024.
However, Budapest indicated it would need more time, and in order to avoid stretching the deadline even further, the bloc could offer some form of financial compensation.
The European Commission is now looking into the use of the payment mechanisms under the REPowerEU initiative, which will be announced on May 18 and aims to lower the EU dependence on Russian energy.
On Monday, von der Leyen traveled to Hungary to discuss the issue of the Russian oil embargo with Hungarian Prime Minister Viktor Orban. According to Hungarian Foreign Minister Peter Szijjarto, the two leaders made some progress during the meeting, but more work is still needed so that Hungary can ensure the security of its energy supplies and support the new package of sanctions against Russia.
