U.S. Senator issues caution to Hungary and Slovakia regarding their acquisitions of Russian energy supplies
In a recent development, U.S. Secretary of Energy Chris Wright has urged the remaining buyers of Russian fossil fuels in the European Union (EU) to seek alternatives for their energy needs. This call comes amidst growing international pressure to reduce dependence on Russian energy sources, following the Kremlin's invasion of Ukraine.
The focus of this push has been on Hungary and Slovakia, two EU countries that have seen a significant increase in their reliance on Russian energy. According to a report by the Centre for Research on Energy and Clean Air, Hungary and Slovakia have ramped up their reliance on Russian energy, with Budapest increasing its Russian crude reliance from 61% pre-invasion to 86% in 2024.
Bratislava, the capital of Slovakia, remains almost 100% dependent on supply from Moscow. Prior to the Kremlin's all-out assault on Ukraine in February 2022, the bloc as a whole imported 45 percent of its natural gas from Russia, a figure that has likely increased since then.
American President Donald Trump and United States Senator Lindsey Graham have also weighed in on the issue. Trump called on NATO countries last week to stop buying oil from Russia, while Graham has threatened consequences against Hungary and Slovakia if they do not end their dependence on Russian energy.
Graham said that Europe had largely done so, and it was now virtually down to Hungary and Slovakia. He also expressed hope and expectation that these countries would soon step up to the plate to help end the conflict in Ukraine.
However, both Hungary and Slovakia have so far refused calls to find alternative energy sources. Budapest recently imposed sanctions on the Ukrainian military officer who was behind an attack on the Druzhba pipeline, which supplies over half of Budapest's oil imports.
The EU as a whole saw a decrease in its dependence on Russian fossil fuels last year. The percentage of gas imported by the EU from Russia dropped to 19%, after the European Commission banned imports by sea. Similarly, the percentage of oil imported by the EU from Russia dropped to 3%.
If Hungary and Slovakia do not heed the calls to reduce their dependence on Russian energy, they may face consequences, according to Graham. This could potentially involve political and diplomatic pressure to curb their reliance on Russian gas supplies.
In 2024, countries in the EU forked out €21.9 billion on Russian fossil fuels, accounting for about 10% of Russia's total global export revenues. This underscores the importance of reducing Europe's dependence on Russian energy not only for geopolitical reasons but also for economic ones.
As the world continues to grapple with the fallout from the Russian invasion of Ukraine, the focus on Hungary and Slovakia's dependence on Russian energy is set to remain a key point of discussion in international circles.
Read also:
- Impact of Trump's Enforced Russia Sanctions Could Compel Putin's Decision-Making
- Steady U.S. inflation amidst prices elevated by Trump's tariffs
- Tariffs increase pause extended by US and China for 90 days
- "Kremlin's fund for Ukraine: Considered as an early payment for the damages incurred during the war"
