Published by Global Banking & Finance Review®
Posted on February 20, 2025
2 min readLast updated: January 26, 2026
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US Treasury's Bessent and Hungary's Szijjarto discuss economic and security ties, emphasizing US-Hungary relations without mentioning Russia.
WASHINGTON (Reuters) - U.S. Treasury Secretary Scott Bessent met on Wednesday with Hungary's Foreign Minister Peter Szijjarto to discuss shared economic and national security priorities, the Treasury said in a statement.
"Secretary Bessent emphasized the importance of the U.S.-Hungary relationship and continued coordination between the two countries at this important time for Europe," the Treasury said in a readout of the meeting, which it described as introductory.
The statement did not include any references to Russia's war in Ukraine nor President Donald Trump's desire to end it quickly by kicking off talks with Moscow, a move that has alarmed European leaders.
Hungarian Prime Minister Viktor Orban's nationalist government has long been at loggerheads with Hungary's Western allies on a range of issues, including its relatively good economic ties with Russia, media freedoms and human rights issues.
Former president Joe Biden's administration in December granted Hungary an exemption from sanctions on Russia's Gazprombank, a move that allows Hungary to continue to make payments for Russian gas via the financial institution.
Earlier on Wednesday, sources told Reuters that Bessent would skip a G20 finance ministers and central bank governors meeting in South Africa next week, a gathering where he would be able to meet with multiple counterparts from the world's largest economies.
(Reporting by David Lawder in Washington; Editing by Nia Williams)
Secretary Bessent emphasized the importance of the U.S.-Hungary relationship and continued coordination between the two countries at this important time for Europe.
The statement did not include any references to Russia's war in Ukraine nor President Donald Trump's desire to end it quickly by kicking off talks with Moscow.
Former president Joe Biden's administration in December granted Hungary an exemption from sanctions on Russia's Gazprombank, allowing Hungary to continue making payments for Russian gas.
Earlier on Wednesday, sources told Reuters that Bessent would skip a G20 finance ministers and central bank governors meeting in South Africa next week.
Hungarian Prime Minister Viktor Orban's nationalist government has long been at loggerheads with Hungary's Western allies on a range of issues, including its relatively good economic ties with Russia.
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