Hungary granted exemption from new US sanctions on Russian energy, FM says

Hungary will be exempt from newly implemented US sanctions targeting Russian energy companies, Hungarian Foreign Affairs and Economic Relations Minister Peter Szijjarto said on November 21 following a working visit to Brussels.

Szijjarto said Washington had formally notified Budapest that the exemption, agreed earlier this month between Prime Minister Viktor Orban and US President Donald Trump, had now taken effect, Caliber.Az reports via Russian media. 

Szijjarto recalled that Orban and Trump reached the understanding during their November 7 meeting in Washington, under which the US would shield Hungary from the latest round of sanctions imposed on Russian oil and gas companies.

"Our American partners informed us that as of today US decisions exempting Hungary from sanctions on oil supplies [from Russia] come into force," Szijjarto told reporters at a press conference broadcast by the M1 television channel. He stressed that, thanks to the agreement, Hungary would continue to enjoy reliable access to energy.

The US Treasury Department on October 22 added Rosneft, Lukoil and their subsidiaries to a new sanctions package that came fully into force on November 21, as part of Washington’s efforts to increase pressure on Moscow over the war in Ukraine.

The Hungarian government has repeatedly warned that sanctions targeting Russian energy firms could significantly harm Hungary’s national interests, as the country continues to rely on long-term contracts with Russia for the bulk of its oil and gas supplies.

By Sabina Mammadli