Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising
    • Contact Us
    • Latest News
    • Press Release
    • Profile
    • Research Reports
    • Submit Post
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    • Principles & Policies▾
      • Publishing Principles
      • Ownership & Funding
      • Corrections Policy
      • Editorial Code of Ethics
      • Diversity & Inclusion Policy
      • Fact Checking Policy
      • Advertising Terms
      • Privacy & Cookie Policy
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    Global Banking & Finance Review® is a global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure. Global Banking & Finance Review® operates a Digital-First Banking Awards Program and framework — an industry-first digital only recognition model built for the modern financial era, delivering continuous, transparent, and data-driven evaluation of institutional performance.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & 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.

    1. Home
    2. >Finance
    3. >Hungary will force Ukraine to reopen key pipeline for Russian oil, Orban says
    Finance

    Hungary will force Ukraine to reopen key pipeline for Russian oil, orban says

    Published by Global Banking & Finance Review®

    Posted on March 5, 2026

    2 min read

    Last updated: March 5, 2026

    Hungary will force Ukraine to reopen key pipeline for Russian oil, Orban says - Finance news and analysis from Global Banking & Finance Review
    Tags:FinanceBankingMarkets

    Quick Summary

    Hungary’s Prime Minister Viktor Orbán threatens to use “political and financial tools” to force Ukraine to reopen the Druzhba oil pipeline, which has been shut since late January due to damage from a Russian attack. Hungary and Slovakia, the last EU states still importing Russian oil, accuse Ukraine

    Table of Contents

    • Hungary's Response to the Druzhba Pipeline Suspension
    • Background of the Pipeline Disruption
    • Accusations and Political Tensions
    • Orban's Statements and Strategy
    • Political Implications and Upcoming Elections
    • Economic Context and Election Outlook
    • Orban's Determination

    Hungary to Use Political and Financial Means to Reopen Russian Oil Pipeline

    Hungary's Response to the Druzhba Pipeline Suspension

    Background of the Pipeline Disruption

    BUDAPEST, March 5 (Reuters) - Hungary will force neighbouring Ukraine with "political and financial tools" to reopen the key Druzhba pipeline carrying Russian oil to Hungarian refineries, Prime Minister Viktor Orban said on Thursday.

    Flows of Russian oil through the Druzhba to ​Hungary and Slovakia via Ukraine have been suspended since late January when Kyiv says the pipeline was seriously damaged by a fire after a Russian attack.

    Accusations and Political Tensions

    Hungary and ‌Slovakia, the only European ​Union countries still importing Russian oil, ⁠have accused Ukraine of deliberately delaying the resumption of oil flows for political reasons. Kyiv says the pipeline cannot be repaired quickly.

    Orban's Statements and Strategy

    "I would like to make clear that we will win, and we will win with force," Orban told a business conference.

    "We have no military force for this, I can reassure everyone that this is not part of our plans. But we have political and financial tools," he said, without elaborating.

    Political Implications and Upcoming Elections

    Last month, Hungary vetoed new EU sanctions on Russia and also a huge loan for Ukraine over the Druzhba pipeline dispute.

    In power since 2010, the veteran leader has made the Ukraine war a focal point in his campaign for re-election in an April 12 ballot, accusing his centre-right challenger Peter Magyar of plotting to drag Hungary into the war raging next door. Magyar strongly denies the suggestion.

    Economic Context and Election Outlook

    With Hungary mired in a three-year-long economic stagnation, most polls show Magyar's Tisza party ahead by a wide margin, although the outcome of the vote remains uncertain.

    Orban's Determination

    "There will be no compromise whatsoever. We will defeat them, we will wrestle down the oil blockade and we will force the Ukrainians to resume shipments," Orban said.

    (Reporting by Gergely SzakacsEditing by Gareth Jones)

    Key Takeaways

    • •Orbán vows to compel Ukraine to restart oil flows via political and financial pressure, stopping short of military force.
    • •The shutdown of the Druzhba pipeline followed a Russian strike on Jan 27, halting supplies to Hungary and Slovakia, which remain EU’s only Russian oil importers.
    • •Hungary and Slovakia are blocking a €90 billion EU loan to Ukraine and new sanctions on Russia over the pipeline dispute; the EU says there is ‘no immediate risk’ to energy security at present.

    Frequently Asked Questions about Hungary will force Ukraine to reopen key pipeline for Russian oil, Orban says

    1Why was the Druzhba pipeline to Hungary suspended?

    The Druzhba pipeline was suspended due to serious damage from a fire after a Russian attack, according to Ukrainian officials.

    2How does Hungary plan to reopen the Russian oil pipeline?

    Hungary's Prime Minister Viktor Orban said they will use political and financial tools to force Ukraine to reopen the pipeline.

    3How has Hungary responded to EU sanctions and loans over the dispute?

    Hungary vetoed new EU sanctions on Russia and blocked a major loan for Ukraine related to the pipeline dispute.

    4Are Hungary and Slovakia the only EU countries importing Russian oil?

    Yes, currently Hungary and Slovakia are the only EU members still importing Russian oil via the Druzhba pipeline.

    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Finance

    Explore more articles in the Finance category

    Image for Greek seafarers strike over crews stranded in the Gulf by Iran war
    Greek seafarers strike over crews stranded in the gulf by iran war
    Image for Dollar, bonds, or gold - which is the safest haven to hold?
    Dollar, bonds, or gold - which is the safest haven to hold?
    Image for Analysis-Hungary PM Orban's battery bet turns into election headache
    Analysis-Hungary PM orban's battery bet turns into election headache
    Image for Exclusive-Hezbollah elite fighters return to south Lebanon to fight Israeli troops, Lebanese sources say
    Exclusive-Hezbollah elite fighters return to south lebanon to fight Israeli troops, lebanese sources say
    Image for European fourth-quarter corporate profits expected to fall 0.4%
    European fourth-quarter corporate profits expected to fall 0.4%
    Image for Iran conflict a threat to economic growth, EBRD president says
    Iran conflict a threat to economic growth, EBRD president says
    Image for Highlights of NATO chief's interview with Reuters
    Highlights of NATO chief's interview with Reuters
    Image for Israel to attack Iran's underground missile sites in second phase of war, sources say
    Israel to attack iran's underground missile sites in second phase of war, sources say
    Image for Lloyd’s market engaging with US government over Gulf maritime plan, officials say
    Lloyd’s market engaging with US government over gulf maritime plan, officials say
    Image for UK PM Starmer to address press conference on Middle East conflict at 1400 GMT
    UK PM starmer to address press conference on middle east conflict at 1400 GMT
    Image for More tankers come under attack as US-Iran conflict spreads in the region
    More tankers come under attack as US-Iran conflict spreads in the region
    Image for Prada posts 8% organic revenue growth in 2025, margins dented by Versace deal
    Prada posts 8% organic revenue growth in 2025, margins dented by versace deal
    View All Finance Posts
    Previous Finance PostMeta to allow AI rivals on WhatsApp in bid to stave off EU action
    Next Finance PostDHL continues to accept middle east orders, but warns of delays