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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

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    United States scraps visa dropbox service for Nigerian applicants

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    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

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    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

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    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Bitcoin crosses US$60K, approaches All-Time High

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    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

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    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    Security features of the new naira notes revealed by the CBN

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    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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Hungarian PM Viktor Orban: “We will not turn off cheap Russian gas and buy expensive American energy”

Friday, 1 April 2022, 2:58 pm
in News, World
0
Hungarian PM Viktor Orban: “We will not turn off cheap Russian gas and buy expensive American energy”
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Hungarian Prime Minister Viktor Orban has said that some countries will not be able to substitute Russian gas with the more expensive American alternative.

The Hungarian PM argued that a landlocked country such as Hungary, won’t be able to receive liquified gas from the US, thus leaving Russian gas as their only option for gas.

Orban who has come under fire several times from Ukraine and its supporters for refusing to take a definitive stance against Russia, made these statements while speaking to local radio station Kossuth on Friday.

Also read; The U.S to release 1 million barrels of oil per day from reserves

Orban reiterated that Hungary condemns Russia’s attack against Ukraine, and that he understands the efforts of Ukrainian President Volodymyr Zelensky, as his country is in trouble and he is looking out for Ukrainian interests, but stated that Hungary “can’t help the Ukrainian people by destroying itself.”

This war is not our war, we can’t win here, but we can lose everything. The question is will we have an economy left by the end of it or not.

Earlier in the month, Orban said that Hungary is intent on looking out for its own interests first and will maintain a “Hungarian point of view,” but emphasized that “it must be made clear to the Russians that it is not worth pursuing this war,” warning at the same time that Europe should avoid hurting itself “more than the Russians.”

In one of his statements on Friday to the local radio station, he said it’s impossible for Hungary to “turn off cheap Russian gas and buy expensive American energy instead,” adding that it is not viable for Europe to count on the transportation of sufficient volumes of liquified gas from the US across the ocean, and that there is no alternative to Russian supplies in the near future, for Hungary in particular.

Prior to the Russian invasion of Ukraine in February during a meeting with President Putin, Hungary requested an increase in natural gas imports from Russia under a bilateral long-term contract.

Orban said then, on 1 February, that he requested an expansion of Hungary’s 15-year gas contract with Russian energy company Gazprom to ensure larger-volume deliveries amid rising energy prices in Europe.

Hungary, a member of the European Union and NATO, signed the 15-year natural gas supply deal with Gazprom in September, under which the Russian state-run gas giant pledged to ship 4.5 billion cubic meters of gas to Hungary annually through lines that bypass Ukraine.

Unlike other EU countries, Budapest has so far refused to either send weapons to Ukraine, or allow other countries to move shipments through its territory.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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