Hungary Faces Fuel Crisis Due to Ukrainian Pressure on Russian Oil Supplies: Politico

Hungary is facing a fuel crisis as Ukraine intensifies pressure on Russian oil supplies, reports Politico.

In June, Kyiv imposed sanctions on Lukoil and banned the company's oil transit to Central Europe. Budapest fears a supply shortfall as 70% of its oil imports come from Russia, half of which is supplied by Lukoil.

Hungarians may soon encounter a sharp rise in energy prices and a shortage of electricity. Hungary's Foreign Minister has labeled Ukraine's decision as 'incomprehensible and unacceptable.' Peter Szijjarto criticized Ukraine for seeking to join the EU while simultaneously 'endangering the energy supply of two EU member states, especially in the summer when energy consumption peaks.'

Szijjarto also noted that Hungary has found temporary solutions, but 'they are unstable in the long run.'