EU Commission is ‘committing economic suicide’ with oil ban, Orban ally slams | World | News

The European Union reached an settlement on a partial embargo on Russia’s oil, with a right away ban on seaborne oil that covers about two-thirds of Russian imports to the EU. In defiance of Vladimir Putin, European Council President Charles Michel mentioned at a information convention: “We want to put a stop to the Russian war machine and stop financing the Russian military capacity.” But opponents to the ban warn it’ll backfire on European vitality customers with increased vitality costs to return, as most EU nations haven’t but absolutely transitioned to different sources of oil. That was the principle concern of Hungary’s Prime Minister Viktor Orban whose nation received a near-total exemption from the brand new embargo.

Mr Orban’s ally, MEP Balázs Hidvégi, hit out on the European Commission on the BBC: “Europe cannot commit economic suicide and make grand declarations in an irresponsible way.

“We’ve already seen how a lot hurt this is inflicting to European individuals, households, and companies.

“Let me remind you and your viewers that your minister, minister Sunak just announced an extra tax in the UK to help poor people because of soaring energy prices.

“So, whenever you make selections like that, you actually should take into consideration the economic actuality and realities of the vitality sector.”

“And you can not make irresponsible propositions”, MEP Hidvégi added.

“I feel the European Commission proposed full oil embargo in an irresponsible means with out prior session and with out sufficient consideration to element and to the fact of individuals’s lives in Europe.”

Upon hearing about Mr Orban’s opt-out of the Russian oil embargo, Ukrainian President Volodymyr Zelensky said Viktor Orban cares more about Russian oil than Ukrainian blood.

When confronted with that statement, Mr Hidvégi said: “It’s a simplistic means of placing issues.”

READ MORE: Ukraine pulls rug from under Orban with stark threat over sanctions

“And whereas I perceive the Ukrainian president’s try and attempt to attract as many gamers as many nations and organisations on this battle as attainable, we have to keep our realism.

“And our primary responsibility is for Hungarians.

“Even if we wish to assist Ukraine and we wish to cut back our dependence on Russian vitality, then we want to have the ability to keep our economic energy and in addition defend our personal individuals.

“We cannot just commit economic suicide and put millions of businesses and people out of work and out of an activity because of an EU conceived and hastily created sanctions like this one.”

Questioning the efficacy of EU’s sanctions, Mr Hidvégi mentioned: “So far actually, if you see the sanctions, what they have caused, they have caused energy prices to soar.”

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Mr Hidvégi continued: “This actually guarantees Russia more income. You see that the rouble is in fact getting stronger.

“So, I increase a number of critical questions in regards to the precise success of the sanctions to date.

“If you do not want to enter into war with Russia – NATO has said it did not want to – then you need to look for other solutions.

“But you can not smash your self extra, or harm your self extra, than the one you wish to harm.

“These are not good propositions”, Mr Hidvégi concluded.

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