"We should not shoot ourselves in the foot": Magyar backs diversified energy imports, including from Russia

Hungary's incoming Prime Minister Péter Magyar has said that his country will continue purchasing Russian oil while also seeking to diversify its energy supplies.

Speaking about Hungary's purchases of Russian oil, Magyar stated that his government "will do everything possible to diversify the energy mix and energy procurement."

"First, this gives us security, and energy security is one of the most important issues for Hungary. Second, this is how you can buy oil and gas at the lowest prices. If you buy oranges from three places – from the east, west and south – then even during a geopolitical conflict or war, you will still be able to purchase them, and at a lower price, because suppliers will compete with each other. The same applies to oil and gas," he said at a press conference.

He stressed that the reason is that Hungary "cannot change its geography".

"Russia will remain nearby, and Hungary will remain nearby. Therefore, we will try to diversify supplies. This does not mean we want to completely abandon cooperation. We want to buy oil cheaply and reliably," he added.

Magyar also noted that while the Russo-Ukrainian war continues, EU sanctions against Russia remain in force.

"Sometimes sanctions are eased, because otherwise the global economy could collapse and countries could go bankrupt due to a lack of oil. But as soon as the war ends – and we hope negotiations will be successful and that this happens soon – Europe will immediately lift the sanctions," he said.

In his view, buying raw materials at high prices is "not in the EU's interest" when Russia is a neighbouring supplier.

"This undermines our competitiveness. It is sometimes easy to make loud statements – I understand the moral aspects and issues of principle, and like everyone, I support the protection of human rights. But we should not shoot ourselves in the foot. We will try to buy oil and gas from as many sources as possible," Magyar added.

On 19 March, Hungarian Prime Minister Viktor Orbán stated that Budapest would not unblock any decisions favourable to Ukraine – including approval of the 20th EU sanctions package against Russia and a €90 billion loan – until Kyiv restores Russian oil transit via the Druzhba pipeline.

A few days ago, Ukrainian President Volodymyr Zelenskyy said that repairs to the Druzhba pipeline, damaged by Russian attacks, would be completed this spring.