Wednesday

10th Aug 2022

Ticker

Hungary permits emergency supervision of energy firms

Hungary on Tuesday passed a decree allowing the government to take over the supervision of vital energy firms plus the gas pipeline network operator FGSZ in an emergency, Reuters reported. It covers key firms in the power, gas and oil industries, and mining. Hungary is about 85-percent reliant on Russian gas imports and 65-percent reliant on Russian crude oil imports, making it highly exposed to a possible energy crisis.

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