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Hungary PM Orban to discuss oil sanctions with Trump next week
Published by Global Banking & Finance Review®
Posted on October 27, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 27, 2025
2 min readLast updated: January 21, 2026
Hungary's PM Orban will meet Trump to discuss US sanctions on Russian oil, impacting Hungary's energy supply. The meeting is set for next week.
BUDAPEST (Reuters) -Hungary's Prime Minister Viktor Orban will discuss U.S. sanctions on Russian oil companies among other issues when he meets U.S. President Donald Trump in Washington next week, Foreign Minister Peter Szijjarto said on Monday.
Trump, a close ally of the Hungarian leader, last week imposed sanctions on Russia for the first time in his second term, targeting Lukoil and Rosneft, as he tries to pressure Moscow into agreeing a ceasefire in Ukraine.
Trump's move has left questions for Hungary and Slovakia, the biggest buyers of Russian oil in the European Union after securing exemptions from EU restrictions.
Orban had already flagged his upcoming visit to Washington in mid-October, when he said the negotiating agenda was almost complete.
"As for our energy supply ... in the second half of next week there will be an opportunity in Washington for the prime minister to discuss this issue in person with the US President," Szijjarto told a briefing.
As the fresh U.S. sanctions do not take effect until late November, they are not currently creating any problems or causing a reduction in Hungary's oil imports from Russia, Szijjarto said.
Orban on Friday said Hungary was working on finding a way to circumvent U.S. sanctions on Russian oil companies. While he did not provide details, he gave no indication that he planned to defy the restrictions.
Orban said he had spoken to Hungary's oil and gas company MOL about the sanctions.
The Hungarian leader, who faces an election in 2026, has cultivated a strong personal rapport with Trump over the years. His hardline anti-immigration stance has earned him support among Trump supporters in the United States.
He said earlier this month that he would be discussing economic issues with Trump at the upcoming meeting.
(Reporting by Krisztina Than; Editing by Conor Humphries)
Energy supply refers to the sources and systems that provide energy, including oil, gas, electricity, and renewable resources, to meet demand.
Lukoil is one of Russia's largest oil companies, involved in the exploration, production, and distribution of oil and gas.
Rosneft is a major Russian state-owned oil company, engaged in the exploration, production, and refining of oil and gas.
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