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Bloomberg: Hungary objects to Russian oil phaseout.

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The EU proposed on May 4 a gradual ban on Russian oil and oil product exports as part of the sixth package of sanctions against Russia. Hungary voiced objections as the measures “would threaten Hungary’s energy security,” the spokesman for Prime Minister Viktor Orban’s government said.

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The European Union is preparing possible retaliation against the United States, including up to 93 billion euros ($101 billion) in tariffs or restrictions on U.S. companies operating in the bloc, amid escalating tensions with U.S. President Donald Trump over Greenland, the Financial Times reported Jan. 18.

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