On June 22, the Hungarian government approved the 14th package of sanctions imposed by the European Union (EU) against Moscow, which includes restrictions on Russia's liquefied natural gas (LNG) supplies.
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| Hungary approves sanctions against Russia, including restrictions on LNG supplies. (Source: Bloomberg) |
Accordingly, Budapest has stopped blocking EU sanctions on Moscow's LNG supplies. In return, no current or future measures threatening the Paks II nuclear power plant that Russia's state-owned Rosatom is building in Hungary will be taken.
The nuclear power project will apparently be permanently protected from all potential sanctions both present and future.
The Hungarian government has excluded Paks II from sanctions in previous packages, however, such action has always been taken on a case-by-case basis.
The decision to change this time is that the project is now guaranteed complete immunity from sanctions.
Budapest's concessions do not change Hungary's stance - which is to strongly oppose sanctions related to nuclear issues.
Previously, the government had rejected any sanctions affecting Russia's gas sector on grounds related to supply security.
The move is a significant step forward, even if the newly adopted measures do not affect Russian LNG supplies to Europe, but only prohibit re-exports from the region's ports (mainly from Belgium and France) to third countries.
Moreover, investment in Moscow's LNG projects, especially in the North Sea, is prohibited.
In 2023, the country earned around 8 billion euros from LNG exports. The current ban is expected to affect around a quarter of this amount.
Source: https://baoquocte.vn/goi-trung-phat-thu-14-nham-vao-nga-hungary-bat-ngo-nhuong-bo-co-buoc-tien-moi-vi-dieu-gi-275980.html
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