The European Union's proposal on oil sanctions against Russia would destroy the Hungarian economy and does not offer a solution to the huge problems it would create for Hungary, Foreign Minister Peter Szijjarto said on Wednesday.

Szijjarto said in a video on his Facebook page that after talks conducted so far, the European Commission does not have a solution, so the only way to an agreement on an oil embargo would be if it applied to maritime oil shipments, and all shipments of Russian oil via pipelines would be fully exempted.

(Reporting by Krisztina Than; Editing by Catherine Evans)