Hungarian PM says country still dependent on Russian oil

Hungary remains dependent on supplies of Russian oil and cannot afford to undermine the competitiveness of its companies, Prime Minister Péter Magyar has said.

Magyar made the remarks in an interview with the German newspaper Frankfurter Allgemeine Zeitung, Caliber.Az reports, citing Russian media.

“We are still dependent on Russian oil and cannot change this overnight. We have not had economic growth for many years, and for growth we need affordable energy… Of course, we are doing everything to diversify our energy sources, but we cannot afford further declines in the competitiveness of our companies and energy poverty for Hungarian families,” he said.

Magyar stressed that while Hungary is working to diversify its energy sources, immediate substitution of Russian oil is not feasible due to economic constraints.

By Vafa Guliyeva