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BUDAPEST:
Hungary plans to pay for Russian fuel in euros by way of Gazprombank, which is able to convert the fee into roubles to fulfill a brand new requirement set by President Vladimir Putin, International Minister Peter Szijjarto mentioned on Monday. Putin has warned Europe it dangers having fuel provides reduce except it pays in roubles as he seeks retaliation over Western sanctions for Moscow’s invasion of Ukraine. Beneath the scheme, Hungarian vitality group MVM’s subsidiary, CEE Vitality, would pay an upcoming invoice in euros, which Gazprombank would convert into roubles after which switch to Russia’s Gazprom Export, Szijjarto advised a information convention. With weeks to go earlier than payments are due, the European Fee has mentioned that these with contracts requiring fee in euros or {dollars} ought to follow that. Prime Minister Viktor Orban mentioned final week Hungary was ready to pay roubles for Russian fuel, breaking ranks with the European Union which has sought a united entrance in opposing Moscow’s demand for fee within the foreign money.
Revealed in The Specific Tribune, April 12th, 2022.
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