00:00Does Hungary really have no alternative to Russian oil?
00:07Hungary says it has no alternative to Russian oil,
00:10despite most EU member states having reduced their dependence on Russian energy
00:15since Moscow's full-scale invasion of Ukraine.
00:18The country still gets about 90% of its crude from Russia,
00:22mostly via the Drusba pipeline,
00:24making Hungary one of the EU countries most dependent on Russian oil.
00:28Budapest insists there is no real substitute
00:31and its primary oil group, MOL,
00:33warns that switching away would be complex and risky.
00:36But according to analysts, Hungary does have other options.
00:40Experts point to the Adria pipeline,
00:42which could bring in non-Russian crude oil via Croatia.
00:45Its operator, Yanaf, told the cube that it's capable of supplying Hungary with oil
00:50and that its refineries have processed non-Russian oil in the past.
00:54Another sticking point for Budapest is the cost of energy,
00:57which is experiencing renewed pressure over the conflict in the Middle East.
01:01Prime Minister Viktor Orban says Russian oil is essential for energy security and affordable fuel.
01:07Russian oil is generally cheaper than international benchmarks by around 20% in 2024.
01:13But analysts say these savings haven't necessarily been reflected in fuel prices.
01:18In fact, the Center for the Study of Democracy's analysis shows that petrol and diesel prices in Hungary
01:24have at times been higher than in neighboring countries,
01:27such as Czech Republic, using non-Russian oil.
01:30According to Ben McWilliams, an energy analyst at the Bruxelles think tank,
01:34Hungary's reliance is driven by commercial interests rather than technical constraints.
01:39Hungarian officials reject this, saying price caps and reserve releases
01:43have protected consumers and warning that abandoning Russian energy would be costly.
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