M. K. Bhadrakumar
Indian Punchline | May 29, 2022

The fallout of the war in Ukraine over Europe is largely seen in terms of the uncertainties over the continent’s heavy dependence on Russian energy and the impact of it on the economies of the 27 EU member countries. Imposing restrictions on Russian oil has proven a much more complicated task than imagined previously.
Countries that are highly dependent on Russian fossil fuels are concerned about the implications of such measures for their own economies. Hungary, for example, is apparently asking for financial support of between $16 billion and $19 billion to move away from Russian energy. It also refuses to discuss the matter at the upcoming Extraordinary European summit on Monday/Tuesday in Brussels. Prime Minister Viktor Orban asked in a letter to the President of the European Council, Charles Michel, that the oil embargo be removed from the topics of discussion at the summit.
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