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Hungary Says Bulgaria Tax on Russian Energy Threatens Winter Security

HUNGARY
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  • Bulgaria is starting to collect revenue from a new tax on imports and transit of pipeline natural gas from Russia, Bloomberg report. The tax, in effect since mid-October, is designed to boost revenue and curb Russia’s ability to fund its war in Ukraine. Hungary, which relies on Russian gas transited via Bulgaria, has said the measure is illegal and wants the EU to investigate.
  • Hungary should step up efforts to end purchases of Russian energy that are leaving the country open to malign influence from the Kremlin, European Commissioner for Energy Kadri Simson said yesterday during Politico's Sustainability Future Week summit. "Even Hungary knows that by continuing this activity, they grant Russia the right to manipulate their market," she said, adding that it's "not [in] their interest to continue this dependence."
  • Hungary continues to reject delivering weapons to Ukraine, and doesn't support further financial support either, the defence minister said in Brussels on Tuesday as per MTI.
  • There are no major data releases scheduled for the remainder of the week. The German Chamber of Industry and Commerce will present an economic report on companies operating in Hungary later this morning.
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  • Bulgaria is starting to collect revenue from a new tax on imports and transit of pipeline natural gas from Russia, Bloomberg report. The tax, in effect since mid-October, is designed to boost revenue and curb Russia’s ability to fund its war in Ukraine. Hungary, which relies on Russian gas transited via Bulgaria, has said the measure is illegal and wants the EU to investigate.
  • Hungary should step up efforts to end purchases of Russian energy that are leaving the country open to malign influence from the Kremlin, European Commissioner for Energy Kadri Simson said yesterday during Politico's Sustainability Future Week summit. "Even Hungary knows that by continuing this activity, they grant Russia the right to manipulate their market," she said, adding that it's "not [in] their interest to continue this dependence."
  • Hungary continues to reject delivering weapons to Ukraine, and doesn't support further financial support either, the defence minister said in Brussels on Tuesday as per MTI.
  • There are no major data releases scheduled for the remainder of the week. The German Chamber of Industry and Commerce will present an economic report on companies operating in Hungary later this morning.