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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 22, 2025

    Featured image for article about Headlines

    By Gergely Szakacs

    BUDAPEST (Reuters) -Hungarian Prime Minister Viktor Orban on Sunday urged the European Union to take a proposed ban on Russian energy off the agenda due to an expected rise in energy prices following the US bombing of Iran.

    The European Commission on Tuesday proposed a legally binding ban on EU imports of Russian gas and liquefied natural gas by the end of 2027, using legal measures to ensure the plan cannot be blocked by EU members Hungary and Slovakia.

    The proposals set out how the bloc plans to fix into law its vow to end decades-old energy relations with Europe's former top gas supplier after Moscow's 2022 invasion of Ukraine.

    "We must contend with a further increase in the price of energy," Orban said in a Facebook video after a meeting of his Defence Council that discussed the possible security and economic implications of the Iran-Israel conflict.

    "This is a serious threat. Therefore, we must remove in Brussels the regulations and bans on Russian energy," he said. "We have enough problems given the negative impact of the Iran-Israel war on energy prices."

    Earlier on Sunday, Hungarian Foreign Minister Peter Szijjarto held phone calls with the foreign ministers of Israel, Russia, Bahrain and Jordan to discuss the Middle East crisis.

    Slovakia and Hungary continue to receive Russian gas and oil and have argued with Ukraine over its decision to halt gas flows from the east through its territory at the end of 2024.

    The EU has imposed sanctions on most Russian oil imports but not on gas due to opposition from Slovakia and Hungary, which maintain closer ties with Moscow.

    Analysts have said higher oil prices, which have surged since Israel began attacking Iran a week ago, could add to inflationary pressures in the import-reliant central European region.

    (Reporting by Gergely Szakacs; editing by Giles Elgood)

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