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Bulgaria Levy on Russia Gas Transit a ‘Hostile Step’, Szijjarto Says

HUNGARY

Hungary pledged to retaliate against Bulgaria after the Balkan nation blindsided it with a tax on Russian gas transit, potentially threatening the viability of energy imports through a critical route, Bloomberg report.

  • The levy was announced by Bulgaria last week and came without warning. Hungary considers the matter to be a “hostile step,” Foreign Minister Szijjarto said today. He said Hungary will work with Serbia on a response.
  • “We’re not going to leave this step unanswered,” Szijjarto told state television after Hungarian Prime Minister Orban met Russian President Putin in Beijing. Szijjarto didn’t provide any details on how his country might respond.
  • As a reminder, Bulgaria published a law last Friday introducing a charge of $10.81 per megawatt hour of Russian-origin gas, effectively raising its cost by about 20% of the price of Europe’s benchmark gas traded in the regional hub of Amsterdam.

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