Euro to rouble: Here is a solution that does not involve Hungary breaching EU sanctions

In the interest of ensuring the security of its energy supplies, Hungary will not support any proposal that places oil or gas imports under sanctions, Péter Szijjártó, the minister of foreign affairs and trade, said on the sidelines of a meeting of his European Union counterparts in Luxembourg on Monday.

Payment in roubles

Regarding the payment of energy supplies in roubles, he referred to “a solution” which did not involve Hungary breaching any EU sanctions. The contracts of the relevant companies on both sides were being amended accordingly, he said, adding that the contracts were a bilateral matter and Hungary did not see the need for the European Union to establish any joint action or coordinated position on the issue.

He said that the contracts of the companies concerned are being amended, although they already provide for the possibility of switching to a currency other than the euro for payments.

The Hungarian company (CEEnergy) will open two accounts with Gazprom Bank, so that payments will be sent in euros and converted into roubles by the Russian bank.

“Hungary will not allow anyone to make the Hungarian people pay the price of the war”, Szijjártó told the Hungarian media.

You can read the article in Hungarian: Így fizetünk az orosz gázért euróban, ami rubellé változik

Arms deliveries

The Hungarian government does not object to other countries sending arms to Ukraine, but it will not send weapons itself, neither will it allow shipments by other countries to cross Hungary directly into Ukraine,

Szijjártó said. “This would seriously endanger the security of Hungary and its people”, he said.

On the subject of arms deliveries, the minister noted that many EU member states “want to comply” with Ukraine’s request for further lethal aid. The European Peace Facility is about to be raised by 500 million euros, he noted, adding that Hungary had not stood in the way of that decision, and would not stop other countries from delivering weapons to Ukraine. Hungary, he added, would not do so itself or allow deliveries through Hungary.

Szijjártó welcomed Austrian Chancellor Karl Nehammer’s visit to Moscow on Monday, saying that all personal meetings raised hope of a diplomatic resolution.

Slovak House Speaker theory

Commenting on Slovak House Speaker Boris Kollar’s accusation that Hungarian Prime Minister Viktor Orbán and Russian President Vladimir Putin were planning to “divvy up” Slovakia (details HERE), Szijjártó said Hungary and Slovakia, two EU member states, were working on strengthening both bilateral ties and the European Union. Hungary is committed to preserving achievements already made while improving bilateral ties further, he said.