Hungary still has no acceptable proposal from EU on Russia oil sanctions, minister says

Hungary's Foreign Minister Peter Szijjarto addresses the 76th Session of the United Nations General Assembly, at the U.N. headquarters in New York, U.S., September 23, 2021. Mary Altaffer/Pool via REUTERS

BUDAPEST, May 16 (Reuters) - Hungary has not received any new serious proposal from the European Commission regarding oil sanctions on Russia since a visit of the Commission president to Budapest earlier this month, Hungary's foreign minister said on Monday on his Facebook page.

"The European Commission has caused a problem with a proposal so its a rightful expectation from Hungary... that the EU should offer a solution: to finance the investments and compensate for ... the (resulting) price rises which necessitates a total modernisation of Hungary's energy structure in a magnitude of 15-18 billion euros," Peter Szijjarto said.

He said another solution would be to make oil shipments via pipeline exempt from the planned embargo.

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Reporting by Krisztina Than; editing by Jason Neely

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