Finance
Hungary's Orban says US intervention in Venezuela good for energy markets
Published by Global Banking & Finance Review®
Posted on January 5, 2026
2 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 5, 2026
2 min readLast updated: January 20, 2026
US intervention in Venezuela could positively impact global energy markets, with Hungary's Orban noting potential control over oil reserves.
BUDAPEST, Jan 5 (Reuters) - The U.S. decision to topple Venezuelan leader Nicolas Maduro should have a positive impact on world energy markets, Hungarian Prime Minister Viktor Orban said on Monday, adding that the U.S. and Venezuela would control up to half of global oil reserves.
In the biggest U.S. intervention in Latin America since the 1989 invasion of Panama, Special Forces swooped into Caracas in helicopters over the weekend and apprehended Maduro before taking him to New York to face drugs charges.
U.S. President Donald Trump, Orban's ally, who has exempted Hungary from U.S. sanctions on Russian energy for the 2026 Hungarian election year, has made clear that he wants to share in Venezuela's oil riches.
"What I consider important for Hungary from this is that, together with Venezuela, the United States, by my estimation, will be able to control 40-50% of the world's oil reserves," Orban said at an annual news conference for international media.
"This is a power already capable of significantly influencing the world market price of energy... I see a strong chance that as a result of bringing Venezuela under control, a more favourable global energy situation will emerge for Hungary, and that is good news."
Budapest has angered many fellow members of the European Union and NATO by continuing to import Russian oil and gas. While insisting that this remains necessary, Budapest has also been taking steps to diversify supplies.
State-owned MVM group signed a 5-year deal with U.S. energy company Chevron for the supply of 2 billion cubic metres of liquefied natural gas in December.
(Reporting by Gergely Szakacs, Anita Komuves; Editing by Bernadette Baum)
Foreign investment refers to the investment made by individuals or entities in assets or businesses located in another country, often to gain a financial return.
An energy market is a marketplace where energy commodities, such as oil and gas, are bought and sold. Prices fluctuate based on supply and demand.
Oil and gas are fossil fuels used primarily for energy production. They are extracted from the earth and are vital for various industries and transportation.
A financial community consists of individuals and organizations involved in the finance sector, including banks, investors, and regulatory bodies, working together in the financial ecosystem.
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