Hungary and Slovakia block Russian sanctions package, Budapest says
FILE PHOTO: Plastic letters arranged to read "Sanctions" are placed in front of Russian flag colors in this illustration taken February 25, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
BUDAPEST (Reuters) -Hungary and Slovakia have decided not to support the EU's plan for an 18th sanctions package against Russia, Hungarian Foreign Minister Peter Szijjarto said on Monday in a press briefing broadcast on his Facebook page.
Hungary and Slovakia decided to block the sanctions package in response to European Union plans to phase out Russian energy imports, the minister said.
"We did this because the European Union ... wants to prohibit member states, including Hungary and Slovakia, from purchasing cheap Russian natural gas and cheap Russian oil as they have done previously," Szijjarto said.
Hungary and Slovakia continue to rely on Russian gas and oil supplies and have maintained warm ties with Moscow.
The Commission on June 10 proposed a new round of sanctions against Russia for its invasion of Ukraine more than three years ago, targeting Moscow's energy revenues, its banks and its military industry.
In response, Slovak Prime Minister Robert Fico said that Slovakia will not back the package of sanctions unless the European Commission provides a solution to the situation Slovakia faces if the bloc phases out Russian energy imports.
Sanctions proposals require unanimity in the bloc for approval.
Late on Sunday, Hungarian Prime Minister Viktor Orban urged the EU to take a proposed ban on Russian energy off the agenda due to an expected rise in energy prices following the U.S. bombing of Iran.
(Reporting by Anita Komuves; Editing by Kevin Liffey)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
32 minutes ago
- New Straits Times
IAEA urges halt to military operations in Iran to allow inspections
BERLIN: Military operations in Iran must be stopped to allow inspectors from the International Atomic Energy Agency (IAEA) to safely access nuclear facilities and assess the situation on the ground, Russian news agency TASS reported, citing IAEA Director General Rafael Grossi. "There needs to be a cessation of hostilities for the necessary safety and security conditions to prevail so that Iran can let IAEA teams into the sites to assess the situation. "IAEA inspectors are in Iran and they are ready," Grossi said during an emergency meeting of the IAEA Board of Governors. Grossi stressed that establishing the facts on the ground is a prerequisite for any agreement - and this can only be achieved through IAEA inspections. He acknowledged that while Iran has the right to take emergency measures to protect its nuclear facilities, such actions must be carried out per the country's obligations to the agency. Grossi said any transfer of nuclear materials or related equipment within Iran must be formally notified to the IAEA. He added that inspectors must first verify the status of 400 kilogrammes of uranium enriched to 60 per cent. Grossi also noted that Iran had informed the agency of its plans to implement special measures to safeguard nuclear materials and equipment in the event of a threat. He thanked Iranian authorities for their cooperation in monitoring the condition of the country's nuclear facilities, and also expressed appreciation to the relevant United Nations bodies. On the night of June 22, the United States military launched airstrikes on three Iranian nuclear facilities - Fordow, Natanz and Isfahan. US President Donald Trump has called on Tehran to agree to end the conflict. Since June 13, Israel has been conducting daily attacks in Iran as part of an operation targeting the country's nuclear programme. — BERNAMA
The Star
43 minutes ago
- The Star
Fiserv unveils plans to launch stablecoin with Circle, PayPal as partners
(Reuters) -Fiserv on Monday unveiled plans to launch a stablecoin, joining a growing number of U.S. companies exploring the technology as the crypto asset moves into the mainstream. The announcement comes after the U.S. Senate passed a landmark stablecoin bill last week, which analysts said could mark a turning point in the crypto oversight debate and a breakthrough for a sector long mired in regulatory uncertainty. The financial technology firm said its stablecoin, FIUSD, will be integrated into its existing banking and payments infrastructure by year-end. The company added that FIUSD will rely on stablecoin infrastructure provided by Paxos and Circle Internet. Shares of Circle, which issues the second-largest stablecoin by market value, rose 15%, while Fiserv and PayPal were last up 2.3% and 1.7%, respectively. Stablecoins are pegged to currencies such as the U.S. dollar and designed to hold a steady value backed by reserves. Once a niche corner of crypto, they have gained popularity for offering protection from price swings. Fintechs and traditional financial firms are increasingly turning to stablecoins to streamline cross-border payments, speed up settlements, and broaden access to digital finance. "We view it (the launch) as a positive indicator of Fiserv's ability to innovate rapidly and leverage central positioning between financial institutions and merchants to bridge traditional and emerging payment systems," analysts at TD Cowen said. Analysts say the stablecoin bill, known as the GENIUS Act, could lend greater legitimacy to the sector, but the Republican-led House must first pass its version before it goes to President Donald Trump for approval. "It's a timely series of announcements with passage of GENIUS Act appearing increasingly imminent," the brokerage added. Fiserv said it has partnered with PayPal to build future interoperability between FIUSD and PayPal USD (PYUSD), to allow consumers and businesses to move funds domestically and internationally. Interoperability typically allows different stablecoins to function across platforms, enabling users to send, receive or convert between tokens without disruption. (Reporting by Manya Saini in Bengaluru; Editing by Leroy Leo and Shailesh Kuber)
The Star
43 minutes ago
- The Star
WhatsApp banned on US House of Representatives devices
FILE PHOTO: A keyboard is placed in front of a displayed WhatsApp logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo WASHINGTON (Reuters) -Meta Platforms WhatsApp messaging service has been banned on all U.S. House of Representatives devices, according to a memo sent to House staff on Monday. The notice to all House staff said the "Office of Cybersecurity has deemed WhatsApp a high-risk to users due to the lack of transparency in how it protects user data, absence of stored data encryption, and potential security risks involved with its use." The memo, from the Chief Administrative Officer, recommended other messaging apps, including Microsoft Corp's Teams platform, Wickr, Signal, Apple's iMessage, and Facetime. Meta did not immediately respond to a request for comment. (Reporting by Courtney Rozen)
