Hungary's government will siphon off nearly all profits earned on cheaper crude oil imported from Russia as of December 8, it said in a decree, a day after Prime Minister Viktor Orban's cabinet scrapped a retail fuel price cap amid a shortage of supplies. Lower crude imports from the Druzhba oil pipeline, extended maintenance work at oil group MOL's Danube refinery, and surging demand forced Orban to abandon the year-long cap. Orban, a vocal critic of Brussels, blamed the situation on EU sanctions on Russian crude. To read the original story from Reuters, click here.
Hungarian PM Raids 'Extra Profits' From Oil After Scrapping Fuel Price Cap
Hungarian Prime Minister Victor Orban (file photo)