Home / Market Update / Germany wants to ban Russian oil with or without Hungary

Germany wants to ban Russian oil with or without Hungary

German Economy Minister Robert Habeck said in a radio interview that the European Union has not yet agreed to the Russian oil embargo, adding that Germany would be willing to abandon Hungary’s participation to speed up the implementation of the proposed embargo.

“If the commission chairperson says 26 countries will do that without Hungary, that is a path I will always support,” Habeck told Deutschlandfunk radio before talks with political and industrial leaders at the World Economic Forum in Davos.

“But I haven’t heard that yet from the European Union,” he added.

Among the 27 member states of the European Union, Hungary is the most vocal critic of the planned embargo on Russian oil.

Check Also

European Stocks Retreat as Post-Election Rally Fades, Inflation Data Awaited

European stocks experienced a decline on Tuesday, reaching a two-week low as the initial relief …