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Hungary accepts Russian gas payments in rubles

As for the payment in rubles, we have a solution that does not violate any sanctions but at the same time ensures gas supplies to Hungary”, said Mr. Szijjarto, noting that the option to pay bills in a different currency instead of the euro was included in the purchase agreement between CEE Energy, a subsidiary of Hungarian energy group MVM, and the energy group MVM. Russian gas consortium Gazprom, signed in September 2021.

Hungary accepts Russian gas payments in rubles - 1

Hungary is ready to accept a payment mechanism in rubles for the purchase of Russian gas to ensure energy security. (Image: Getty Images)

In March, Russia revised its payment mechanism for its natural gas exports, requiring “unfriendly” countries to pay in rubles when buying Russian gas. Moscow explains that buyers will now have to transfer gas payments in their chosen currency to an account at Russia’s Gazprombank, which will convert them into rubles and send them to the consortium. Gazprom gas.

The European Commission has urged member states whose contracts require payments in euros or dollars to stick to their original payment plans. But Foreign Minister Szijjarto stressed that Hungary opposes this common approach and considers paying for Russian gas a separate matter for each country.

Earlier, Hungarian Prime Minister Victor Orban said his country would not give in to EU pressure and would not support restrictions on energy supplies from Russia as this is a “red line” for Hungary. . It is known that 85% of gas consumed in Hungary is imported from Russia.

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