Hungary declared a state of emergency due to the war in Ukraine

Hungarian Prime Minister Viktor Orban has declared a state of emergency in the country due to the war in Ukraine, Bloomberg reports.

According to Orban, this measure will give the country's government "room for maneuver and the ability to immediately respond" to the consequences of events in Ukraine.

“We see that the war and the sanctions of Brussels have led to huge economic shocks and a sharp rise in prices. The world is on the verge of an economic crisis. The government, exercising its right under the constitution, declares a state of emergency from midnight (May 25)," the prime minister said, noting that the war in Ukraine threatens Hungary's energy and financial security (TASS quote ) .

The Hungarian government is expected to announce the first measures under the state of emergency on Wednesday.

• Hungary opposes the imposition of an embargo on the import of Russian oil, which is being considered as part of the sixth package of EU sanctions due to Russia's invasion of Ukraine. Representatives of the country argue that the ban will cause great damage to its economy.
• It is assumed that the EU will compensate Hungary and several other countries for the costs of abandoning Russian oil. According to the Financial Times, in a letter to EU President Charles Michel, Orbán suggested not discussing the measure at the bloc's leaders' summit next week. The Hungarian prime minister also said that the country would not support the oil embargo until Brussels provided Budapest with detailed information on financial assistance.