Hungary wants to continue liberation from sanctions against Russia for another year

According to the Hungarian Foreign Ministry, Peter Siyarto, the Hungarian company MOL takes another year to finance the construction of a new oil refinery in Slovakia. Hungary will appeal to the European Union with a request to continue the release from sanctions against Russia for one year. Yes, the dismissal gives the opportunity of Slovnaft, which is part of the Hungarian MOL, export Russian petroleum products to the Czech Republic.

This was stated by Hungarian Foreign Minister Peter Siyarto, Reuters writes. According to him, Mol takes another year to complete investing in the Slovnaft oil refining plant in Slovakia. Only then will she be able to move from Russian oil to an alternative. "It takes another year to transfer these investments, so we ask the EU to extend the release from sanctions for one year," Siyarto said. The publication writes that MOL has oil refineries in Hungary and Slovakia.

These countries still receive oil with the help of Druzhba oil pipeline. The Chairman and Chief Executive Director of Mol Zolt Hernady told reporters that his company was going to finance technological investments of $ 500-700 million, needed to diversify their refineries. According to him, last year, only about 5% of SLOVNAFT consumed oil was the share of non-Russian companies, but by the end of 2023 this share would increase to about 30-35%. Hungary's largest oil and gas company.

He is engaged in exploration and production, transportation of hydrocarbons, as well as the operation of a network of main gas pipelines. It has a developed distribution network in the Russian Federation for the supply of oils and lubricants. We will remind that earlier on June 3, journalists wrote that in the EU they want to weaken sanctions against the Russian Federation and continue the "grain agreement".