US EditionHungary Limits Fuel Prices, Asks EU to Suspend Sanctions on Russian Energy
Prime Minister Viktor Orbán reimposed fuel price caps and blocked EU sanctions on Russian energy, citing Middle East conflict and pipeline disruptions that drove prices above $100 per barrel.
- On Monday, Prime Minister Viktor Orbán reintroduced a national fuel price cap after an emergency government meeting, urging the EU to 'review and suspend all sanctions on Russian energy' in a letter to Ursula von der Leyen.
- Since Jan. 27, the Druzhba pipeline has been closed after damage, and Russian crude deliveries have been halted, pushing oil prices above $100 amid the Iran-Middle East conflict.
- Petrol will be capped at 595 forints per litre and diesel at 615 forints per litre, and fuel in Hungary faces VAT at 27%, with market prices near 585 forints for petrol and 629 forints for diesel, according to holtankoljak.hu.
- Blocking EU funds, Budapest has escalated by vetoing a $106 billion EU loan to Ukraine and detaining seven Ukrainian state bank employees, increasing tensions.
- With an April 12 election looming, analysts warn that Orbán's fuel price caps and calls to suspend EU sanctions on Russian energy may deepen tensions with Brussels and impact bloc-wide policies.
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After 4 years and 20 (I say 20) EU sanctions packages against Russia, since yesterday we are not already at the counter-compañeros!, but the wind is changing.In the middle of the day, the Hungarian premier Viktor Orbán thought about throwing the first pebble in the gear that spins (empty) for years writing on social media that "The Ukrainian oil block and the war in the Middle East are driving oil prices. Europe must act. Today I wrote to Presid…
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