Hungary PM says EU sanctions on Russia won’t include ban on oil imports

Hungary’s prime minister says that sanctions imposed against Russia by the European Union would not involve a ban on imports of Russian oil and gas.

In a video on his social media channels following a meeting of EU leaders in Versailles, France, Viktor Orban said it was possible that the war in Ukraine “would drag on,” but that “the most important issue was settled in a way that was favorable to us.”

“There will be no sanctions covering oil and gas, which means that Hungary’s energy supply is guaranteed for the next period,” Orban says.

Orban, widely considered to be the Kremlin’s closest ally in the EU, has supported the bloc’s sanctions against Russia over its invasion of Ukraine, Hungary’s neighbor.

But he has remained firm in insisting that the energy sector be left out of sanctions, arguing that such a move would damage EU countries more than Russia.

Last year, Hungary extended by 15 years a natural gas contract with Russian state-owned energy company Gazprom, and has entered into a 12 billion euro ($13.6 billion) Russian build-and-finance agreement to add two nuclear reactors to Hungary’s only nuclear power plant.