EU ‘ready’ to negotiate as Hungary-Ukraine oil row boils over – POLITICO

Commission spokesperson Olof Gill told POLITICO that the EU executive was “currently studying the contents of this letter,” while adding that it “stands ready to support the impact of [EU] member states in finding a solution together with Ukraine.”

Budapest relies on Moscow for 70 percent of its oil imports — and on Lukoil for half of that amount. Slovakia, which imported 88 percent of its crude from Russia last year, according to the Kpler market intelligence firm, has warned the Ukrainian measure could reduce the crude supplies for its primary refinery by 40 percent.

“This is an unacceptable step on the part of Ukraine, a country that wants to be a member of the European Union, and with a single decision puts the oil supply …. in fundamental danger,” Hungary’s Foreign Minister Péter Szijjártó said Monday.

Szijjártó escalated his war of words on Tuesday, vowing Hungary will block funds used to reimburse EU countries for military aid sent to Ukraine in protest over Kyiv’s sanctions.

“As long as this issue is not resolved by Ukraine, everyone should forget about the payment of the €6.5 billion of the European Peace Facility compensation for arms transfers,” the Hungarian foreign minister vowed.

Budapest has already been blocking the reimbursements for over a year, offering ever-shifting reasons — a tactic the EU’s top diplomat, Josep Borrell, has branded as “shameful.”

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