Dispute Deepens Between Hungary And EU Over Russia Sanctions

Hungarian President Victor Orban has deepened a dispute with the European Commission over the proposal to ban Russia oil imports by claiming that the ban hurts Europe more than Russia.

• The Coreper talks collapsed this morning leading to accusations that Orban may be using his veto power to leverage concessions on frozen recovery fund money.
• Orban quoted by Reuters: 'Hungary cannot support the EU's new sanctions package, which includes an embargo on oil imports, in its present form.'
• Orban says the European Commission's proposal to ban Russian oil imports would amount to an 'atomic bomb dropped on the Hungarian economy.'
• WSJ's Laurence Norman: 'Bottom line: the sanctions and oil embargo are going to happen but may not be signed off today. Haggling with EU Commission over length of transition and above all money for Hungary could slip into weekend.'
• EU foreign policy chief Josep Borrell responded by saying 'that is unacceptable.' (if Hungary is linking oil sanctions approval to access to the recovery fund money which have been frozen over rule of law violations.)