Hungary’s MOL Group CEO, Zsolt Hernadi, assures that Hungary will not face oil shortages despite Ukraine blocking Lukoil’s crude transit. With 90 days of strategic reserves and the ability to buy Russian crude via Croatia, Hungary remains secure. This contradicts concerns raised by the Hungarian and Slovakian governments, who sought EU intervention but were dismissed. EU ambassadors are unsympathetic to their complaints, as they failed to reduce dependency on Russian oil like other member states.
Prime Minister Robert Fico of Slovakia criticized Kyiv’s sanctions against Russian oil, emphasizing Slovakia’s stance of not being a hostage to Ukrainian-Russian relations. Despite tensions, Hungary remains confident in its oil supply, thanks to its strategic reserves and alternative options.
The situation showcases the complexities of European energy politics and the challenges in reducing dependency on Russian oil. As the debate continues, the importance of diversifying energy sources becomes increasingly apparent.
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