BUDAPEST (Reuters] -Hungary can’t support the European Union’s new sanctions, which include an embargo oil imports. This was stated by Prime Minister Viktor Orban on Friday.

Orban stated that the European Commission’s proposal to ban Russian oil imports amounts to an “atomic bomb” that is dropped on Hungary’s economy. He also said that Hungary would be willing to negotiate with the European Commission if they present a proposal that meets Hungarian needs.

On Wednesday, the European Union executive proposed the harshest set of sanctions against Moscow in its war on Ukraine. However, several countries concerned about Russia’s oil imports were obstructing any agreement.

A small number of countries in the eastern EU are concerned about the lack of time they will have to adapt. Diplomats stated that Hungary and Slovakia would still be available until the end 2023.

Orban said that Hungary would require 5 years of huge investment in its pipelines and refineries to change its current system, which relies on Russian oil for about 65%.

Orban explained that while we know precisely what we require, we also need five years to complete the process. 1-1.5 years are not sufficient. Orban added that Hungary would need huge investments in its oil refineries and shipping systems to allow for imports from non-Russian crude.

Orban asked if it would be wise to invest on such a scale to achieve a result within 4 to 5 years, when the conflict in Ukraine was taking place now.

He indicated that Hungary would wait for the Commission to make a revised proposal.

“I do not want to face the EU, but I would like to collaborate ….but that is possible only if they consider our interests.”

Orban stated that Hungary wouldn’t support blacklisting Patriarch Kirill of Russia Orthodox Church, an ally of Kremlin, because this is “an issue of religious fredom.”

He said that Hungary had reiterated its position of not sending weapons to Ukraine’s neighbours, as such shipments could be targets for Russian aggression in areas beyond western Ukraine border where Hungarians reside.