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Hungary cannot support the EU’s new sanctions, including an embargo on oil imports, Prime Minister Viktor Orban has said.

He said banning oil imports would amount to an “atomic bomb” dropped on the Hungarian economy.

Orban’s concerns echo those of several countries that worry about the impact of cutting Russian oil.

“We know exactly what we need, first of all we need 5 years for this whole process to be completed… 1-1.5 years is not enough for anything,” Orban said, adding that Hungary would also need vast investment in refineries and the shipping system to allow imports of non-Russian oil.

He said Hungary was waiting to see a new proposal from the Commission.

“I don’t want to confront the EU but to cooperate….but this is only possible if they take our interests into account.”

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