The European Union's complete refusal to buy Russian oil amid the conflict in the Middle East would cause serious damage to the economies of member states, which should already be preparing for even higher prices for gasoline and other fuels. This was stated by Hungarian Foreign Minister Péter Szijjarto, speaking on the program “The Moment of Truth“ on YouTube.
“Three days after the parliamentary elections in Hungary - on April 15, the European Commission will present a proposal for a complete ban on the import of Russian oil into the European Union. In the current situation, this would be a serious blow to the European economy, as the war on Iran continues,“ said the foreign minister.
He noted that against the backdrop of a global oil shortage, Europe would be in a more vulnerable position than other regions. “The European economy will suffer. The European economy must prepare for a huge price increase,” the minister stressed, assuring that the Hungarian government intends to continue fighting to maintain supplies of Russian oil. Szijjártó said that Hungary is ready to defend this position in the EU, despite the ongoing pressure.
On March 16, European Energy Commissioner Dan Jørgensen confirmed that “The European Commission is continuing to develop a plan for a complete shutdown of Russian oil“. He announced that this plan would be presented soon and recommended that all countries “prepare for this”. The European Commission has previously said that the ban on Russian oil supplies should be permanent, without any exceptions and should remain in force after the end of the conflict in Ukraine. According to reports from Brussels, the EU wants to impose a ban on Russian oil imports starting in 2027.