Hungary’s Minister of Foreign Affairs and Foreign Trade, Peter Szijjártó, announced on Saturday on his official Facebook page that Hungary has been exempted from applying the oil price cap.

Peter SijartoPhoto: press service of the Ministry of Foreign Affairs of the Russian Federation / AP / Profimedia

As reported by the Hungarian agency MTI, quoted by News.ro, Peter Szijjártó wrote: “The European Union has introduced a ceiling on the price of oil. Although it is time for Brussels to realize that these and similar measures have the greatest impact on the European economy.”

According to Peter Sijarto, it would be necessary to increase the amount of energy resources, which would lower prices.

“During the negotiations on the oil price cap, we fought a lot for Hungary’s interests and eventually succeeded: Hungary was exempted from applying the oil price cap,” he emphasized.

The Minister added that this decision once again managed to protect Hungary’s energy security.

The European Union decided on Friday to cap Russian oil prices at $60 a barrel after several days of intense negotiations on the level and after Poland accepted the deal, which was officially announced on Sunday.

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