Trump and Orban to Discuss Hungary’s Energy Dependence on Russian Oil and Possible Agreements
Hungarian Prime Minister Viktor Orban plans to meet with U.S. President Donald Trump on Friday, November 7, to discuss key issues of energy security and economic cooperation between the countries. One of the main topics will be the continued dependence of Budapest on Russian oil, which raises concerns among EU and NATO partners.
This is reported by AgroReview
Energy Challenges and Sanctions
The U.S. insists that European countries gradually phase out the purchase of Russian oil, depriving Moscow of funding for its war against Ukraine. However, Hungary has maintained significant dependence on energy resources from the Russian Federation since the onset of the large-scale invasion in 2022. Viktor Orban is known to oppose strict restrictions and sanctions that could negatively impact the Hungarian economy.
“Hungarian officials stated ahead of the meeting that Orban intends to discuss negotiations between the U.S. and Russia and seek exemptions from American energy sanctions. If this cannot be achieved, the consequences will fall on the shoulders of ordinary Hungarians.”
Orban is expected to demand certain concessions in sanctions for Budapest. In the absence of concessions, Hungarian politicians emphasize that the burden of the restrictions may be felt by the country’s population.
New Contracts and Cooperation Prospects
During the negotiations, Orban will present a series of proposals aimed at reducing energy dependence on Russia, including the purchase of American liquefied natural gas (LNG) and nuclear fuel. In particular, a contract with Westinghouse Electric Co. worth $100 million is planned for the supply of fuel to the Hungarian nuclear power plant, which currently comes from Russia. A $600 million package for the purchase of American LNG over the next five years is also under discussion.
Additionally, the parties are working on a memorandum regarding Hungary’s potential acquisition of up to 10 small modular reactors at a cost of up to $20 billion. Although these negotiations are in the early stages and the technology still needs to prove its effectiveness, this step could significantly change the course of the Hungarian nuclear power plant expansion project, which has long remained under Russian control. It is known that the Russian company Rosatom is preparing to begin pouring concrete for new units in February—almost 12 years after the signing of the nuclear agreement.
In addition to energy agreements, the deals between the countries include the signing of defense contracts and financial agreements, the details of which are currently not disclosed.