Brussels weighing sanctions on Russian corporations Rosatom, Lukoil, and Gazprom, says Hungary’s foreign minister

Brussels is considering plans to implement sanctions against Russia’s state atomic energy corporation Rosatom, oil major Lukoil, and state-owned energy giant Gazprom, according to a recent statement by Hungarian Foreign Minister Péter Szijjártó. The measures are now being discussed in Brussels, Szijjarto said on the YouTube program “Hour of Justice” (Igazság órája).

In his conversation with the host, Szijjártó accused Brussels of “sanctions fanaticism.”

“They are putting forward ever wilder proposals. Now they want Rosatom, Gazprom, and Lukoil included on the sanctions list, meaning those Russian energy companies whose cooperation is critically important for Hungary both in terms of energy security and for maintaining reduced overhead costs,” the newspaper Magyar Nemzet quoted Szijjártó as saying.

There had been no earlier reports that Brussels was considering sanctions against those Russian corporations. Last week, the European Commission said the central element of the 20th package of sanctions, currently under discussion, would be a complete ban on providing maritime services for Russian oil exports. It later emerged that Brussels had, for the first time, proposed adding ports in third countries to sanctions lists targeting Russian interests.

It was also known that the European Commission plans to put forward draft legislation providing for a phased withdrawal from the use of Russian pipeline oil and Russian nuclear fuel, similar to the ban on EU member imports of Russian LNG that was approved in late January. Earlier this month, Hungary filed a lawsuit challenging the EU decision to fully end Russian gas imports.

Beyond its dependence on Russian oil and gas, Hungary is also tied to Rosatom, which services the Paks nuclear power plant (NPP) and is also building a new Paks II. Sanctions against Rosatom, Szijjártó said, would effectively force Budapest to end construction on the latter project.

“We will not be able to continue cooperation on building the new Paks plant, and construction will stop. We will not be able to buy Russian natural gas and Russian oil practically from the day the decision is made. Therefore, whoever does this is our enemy. And Ukraine is now our enemy, because Ukraine is taking hostile steps against Hungary. And we cannot, will not and will not allow this,” Szijjártó said.

In addition to its activities in Hungary, Rosatom currently oversees the construction or maintenance of nuclear plants located in China, Egypt, India, Belarus, and Turkey. The Czech Republic and Slovakia also buy Russian fuel for their nuclear power plants.