The Hungarian government has called on the European Union to immediately lift the ban on Russian oil and gas imports. According to Hungarian Foreign and Trade Minister Péter Szijjártó, the move could prevent energy shortages and soaring prices, which Budapest says are threatened by the escalating conflict in the Middle East.

Szijjártó announced the proposal after the extraordinary meetings of the Defence and Energy Security Councils convened by Prime Minister Viktor Orbán. The Hungarian minister stressed that the current situation on the world energy markets required an immediate response from the European Union, he said.

„In the current situation, the European Union must act immediately. In order to prevent a sharp rise in prices, the ban on imports of Russian energy raw materials into all regions of Europe must be lifted immediately.“ Szijjártó said in a video message broadcast by the Hungarian television station M1.

According to him, the continuation of the sanctions policy could have serious consequences for the European economy. If Brussels does not lift the ban, the Hungarian government said, there is a risk of a significant rise in energy prices and further pressure on the European economy.

Budapest argues primarily on the basis of current developments in the Middle East. According to Szijjártó, the escalation of the conflict has led, among other things, to the blockade of the Strait of Hormuz, one of the most important energy transport routes in the world. Some 33 per cent of the world's sea transport of oil and about 20 per cent of liquefied natural gas supplies pass through there, he said.

The Strait is also key to Saudi Arabia's oil exports. According to the Hungarian minister, around 90 percent of Saudi exports pass through this region. Because of the conflict, he said, a significant part of the world's oil supply has been diverted from the global market.

„A significant amount of oil is being withdrawn from the global market because of the war in the Middle East,“ Szijjártó said. He added that the situation also directly affects European countries, which, according to him, are already facing shortages of some energy resources.

According to the Hungarian government, the current pressure on the European energy market is caused by a combination of two factors - the conflict in the Middle East and the restriction of supplies of Russian raw materials. Szijjártó said there is a real risk of a sharp rise in prices if the EU does not allow Russian energy to return to the European market.

The Minister therefore called on the EU leadership to give priority to the economic interests of European countries and their populations when making decisions. In his view, Brussels should act without ideological prejudices and focus primarily on the stability of the European economy.

Tensions in energy markets in recent weeks have also been linked to the escalating conflict between the United States, Israel and Iran. At the end of February, the United States and Israel launched a large-scale military operation against Iran, during which targets in Tehran, among others, were hit. Subsequent retaliatory operations and attacks on U.S. military bases in the region have further heightened concerns about disruptions to global energy supplies.

gnews.cz - GH