Hungary has agreed to ban Russian liquefied natural gas (LNG) supplies as part of a new package of Russian sanctions that are being prepared by the European Union. At a meeting of EU ambassadors, Budapest’s representative did not raise any objections to the ban on Russian LNG imports. Hungary had previously tried to secure exceptions for itself on this issue but ultimately supported a compromise. The main obstacle to reaching an agreement on the 19th package of sanctions now remains the positions held by Slovakia and Austria.
Vienna insists that the document contain a clause that would release approximately €2B of Russian assets – these funds are being demanded by Raiffeisen Bank International as compensation for the fine that the bank was forced to pay under a Russian court decision. The Slovakian representative said that Bratislava opposes the new sanctions, arguing that the EU’s climate policy is harming the Slovak automotive industry. The new sanctions package provides for a gradual phasing out of imports of Russian liquefied natural gas by 2027.