Hungary’s PM-elect Magyar says his country cannot yet abandon Russian oil

Hungary’s PM-elect Péter Magyar has stated that deliveries of Russian oil via the Druzhba pipeline are of “extremely important” significance for his country, and Budapest hopes that Ukraine will resume its operation as promised by the end of April.

The leader of Hungary’s Tisza Party, which won the parliamentary elections, said this is very important, and Hungary simply cannot give it up at the moment, Caliber.Az reports, citing Russian media.

“If it wanted to do so now, it would be completely impossible from a geographical point of view. Russia will remain where it is, and Hungary will too,” he said during an appearance on Kossuth radio.

He noted that he has not yet discussed the issue with Ukrainian President Volodymyr Zelenskyy, as he has not yet become prime minister, and the matter remains within the authority of incumbent Prime Minister Viktor Orbán.

Magyar is expected to be elected head of government at the first session of Hungary’s newly formed parliament in early May.

He stressed that the country aims to source oil from as many suppliers as possible under the most favourable conditions.

The resumption of Druzhba deliveries would be important for replenishing strategic reserves, which have declined by 20% over the past month.

Orbán’s government was forced to release crude from these reserves to MOL refineries after Ukraine blocked supplies through the pipeline.

Hungary has not received Russian oil via this route since January 27, and even after deliveries resume, it will take time to rebuild reserves due to global supply shortages partly linked to developments involving Iran.

“Restoring supplies [from the Persian Gulf region] for the global economy will take weeks, and possibly months,” the Tisza Party leader noted.

By Bakhtiyar Abbasov