Financial Times: EU to give Hungary and Slovakia two years to phase out Russian gas imports

The European Union (EU) will give Hungary and Slovakia a two-year period to phase out Russian gas imports, the Financial Times reported.

According to a proposal to be published tomorrow, the EU will rely on trade law to justify the current ban on Russian gas, Tanjug reports.

The report claims that by not framing the proposal as a sanctions measure, the union will be able to avoid a veto from Hungary and Slovakia, which are heavily dependent on Russian energy.

The document reportedly proposes to end short-term contracts, pipeline gas imports and liquefied natural gas from next year, while long-term contracts will have to end by 2028.

Slovak Prime Minister Robert Fico said that Slovakia will ask the European Union's foreign ministers to postpone the vote on the next package of sanctions against Russia.

He said at a press conference that the issue of a total ban on Russian gas imports after 2027 and possible compensation for the damage Slovakia would suffer in that case must first be considered.

"I have asked Foreign Minister Juraj Blanar to officially request that the discussion on these sanctions at the meeting of the European Union's foreign ministers be postponed until the issue of suspending the export of Russian gas, oil and nuclear fuel to Europe is resolved," Fico said.

The Slovak government wants to use the vote on sanctions, which must be passed unanimously, to negotiate concessions regarding an agreement to end imports of Russian energy products, which is expected to be adopted by a majority vote, with Slovakia likely to be outvoted.

Fico again warned of the risks associated with the elimination of Russian energy sources.

"We are asking whether there will be enough gas for Slovakia. Do we have any guarantees that, if there is a gas shortage in Germany and the Czech Republic, it will reach us," Fico asked.

Another problem is the expected increase in gas transportation prices, or the existing contract with Russia's Gazprom, which expires in 2035.

According to him, the Russian company could sue Slovakia and demand enormous damages if the contract is terminated.

Fico also said that, when it comes to oil, it is assumed that restrictions will not be voted on by a qualified majority in the EU, but will be done through sanctions, when a unanimous decision is required.

There are currently no proposals to limit the import of Russian nuclear fuel.