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Hungarian authorities banned firewood exports

The ban on foreign trade in firewood is related to the energy crisis and the record rise in prices in the country.

Hungarian authorities banned firewood exports
Photo: from open sources
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As of Thursday, August 11, Hungarian authorities have banned the export of firewood from the country. Logs cannot be exported amid the energy crisis as well as the ensuing record inflation in the country, said Agriculture Minister Istvan Nagy.

Now the authorities are forced to control all exports of wood, because the amount of wood in Hungary is strategically important for the country's energy security.

Thus, if there is a gas shortage, Hungary will not only be able to impose restrictions on the use of gas in the member countries, but also to survive the winter on its own, the minister said.

It was also noted that the inflation rate in the country in July showed a record increase of 13.7% for the first time in 24 years.

Central Bank of Hungary, responding to the situation, has already raised its key rate by more than 800 basis points this year. The last increase was 200 basis points last month.

Budapest also has problems in its relations with other EU countries because the authorities are trying to get exceptional conditions for Hungary to buy oil and gas from Russia, bypassing the sanctions of the European Commission.

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