US grants Hungary one-year exception from sanctions over Russian oil and gas

The United States has granted Hungary a one-year exemption from sanctions related to its use of Russian oil and gas. This decision followed a meeting between Hungarian Prime Minister Viktor Orbán and US President Donald Trump, during which Orbán emphasized Hungary's critical reliance on Russian energy and the potential economic consequences of sanctions. Trump expressed understanding of Hungary's geographical limitations regarding energy imports, noting the country's lack of direct access to sea ports. In addition to the sanctions waiver, Hungary has committed to purchasing approximately $600 million worth of liquefied natural gas from the United States. This development comes as Hungary has maintained its energy dependence on Russia, drawing criticism from some EU and NATO allies. The International Monetary Fund has previously warned of significant economic output losses for Hungary if Russian natural gas supplies were cut off. The leaders also discussed Russia's ongoing war with Ukraine, with Trump suggesting that Russia was not yet willing to cease fighting.... download the app to read more