Hungary PM says new sanction proposal 'not good'

Prime Minister Viktor Orban on Monday said Hungarian concerns must address before he could support new EU sanctions targeting Russian oil.

Orban was among European Union leaders gathering in Brussels and was adamant a deal was not in sight, saying solutions to the supply issues it would create should be found first.

The Ukrainian President has repeatedly demanded that the EU target Russia’s lucrative energy sector and deprives Moscow of billions of dollars each day in supply payments.

But, Hungary is leading a group of countries - along with Slovakia, the Czech Republic and Bulgaria - that rely on Russian oil and can't afford to take such steps.

Hungary gets more than 60% of its oil from Russia and 85% of its natural gas, and Orban has insisted that an oil embargo should not be discussed at the summit.

The EU gets about 25% of its oil from Russia, most of which goes toward gasoline and diesel for vehicles.