Hungary seeks extension of US sanctions waiver for Russian energy imports

The Hungarian government, led by Prime Minister Peter Magyar, intends to request an extension of a one-year waiver from United States sanctions regarding the use of Russian oil and gas. The current exemption is set to expire in November.

The original agreement, negotiated between former Hungarian leader Viktor Orban and US President Donald Trump, allows Hungary to continue utilizing Russian energy resources. According to S&P Global, over 90% of Hungary's oil and gas imports originate from Russia via pipelines passing through Ukraine, Bulgaria, and Serbia.

Foreign Minister Anita Orban stated that Budapest is seeking an extension beyond November, noting that the Hungarian energy group MOL requires additional time to implement the technological changes necessary for diversifying energy sources. This dependence remains a point of economic vulnerability as the European Union seeks to reduce reliance on Russian energy following the 2022 invasion of Ukraine.