Hungary secures lowest energy prices in Europe — Russian envoy

Deliveries of oil and gas from Russia are vitally important for Hungary, Prime Minister Viktor Orban very categorically told Trump, the US President at a meeting in the White House.

“That will be one of the issues for today to explain clearly what would be the consequences for the Hungarian people and for the Hungarian economy not to get oil and gas from Russia, because we are supplied by pipelines,” Orban said.

“Pipeline is not an ideological political issue. It’s a physical reality, because we don’t have port,” Orban noted. “So we will negotiate on that point. It’s vital for us anyway,” he added.

Hungary has secured the lowest energy prices in Europe by freeing itself from sanctions on Russian oil, special presidential envoy and Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev said.

“[Prime Minister] Viktor Orban protects Hungary by securing Russian oil thus delivering Europe’s lowest energy prices to Hungarians,” he wrote in English on his X page, commenting on the Hungarian prime minister’s post after the White House meet.

Earlier, Orban said after talks with US President Donald Trump at the White House that Budapest had resolved the issues with the USA that had been hindering oil and gas supplies from Russia.

Reuters also reported, citing a US administration official, that the US had no objections against Hungry’s purchase of Russian energy resources.

On October 22, the US Treasury Department included Rosneft and Lukoil, along with their subsidiaries, in a new package of anti-Russian sanctions, which will take full effect on November 21. The US believes that the restrictions should put pressure on Moscow in connection with the conflict in Ukraine.

However, the Hungarian government has noted that these new sanctions could harm the country’s interests, as it still receives most of its energy supplies from Russia under long-term contracts.