Hungary reacts to the EU! Energy embargo will multiply bills

Hungarian Prime Minister Viktor Orban stated in his announcement that if the European Commission's plan to reject Russian energy sources is implemented, the Hungarian people will see the consequences in their electricity bills in September, and the total annual loss for Hungary will reach 2 billion euros.

Orban said, "I had to hold an emergency economic meeting due to the energy threat from Ukraine. Brussels did not hesitate to help Ukraine at the expense of destroying Hungarian and European families due to the cutting off of oil and natural gas sources from Russia. This means an additional cost of 800 billion forints (2 billion euros) per year for Hungary. Meanwhile, the bills will already show this in September."

Orban also noted that if the European Commission's plan is implemented, Hungarians' electricity bills would double and natural gas bills would quadruple, and the Hungarian government would be forced to end its state subsidy program aimed at reducing utility costs.

The European Commission presented a draft roadmap on Tuesday for stopping the import of Russian energy products into the EU by the end of 2027.

The Commission plans to submit a legislative proposal in June that would ban all imports under new Russian gas contracts and existing spot contracts. This ban is expected to come into effect by the end of 2025. Furthermore, it is planned that the import of pipeline and liquefied natural gas from Russia under long-term contracts will also be banned by the end of 2027 at the latest.

News Source: 12punto