Donald Trump has hinted that he would exempt Hungary from U.S. sanctions on Russian oil. This possible deal follows the budding relationship he has developed with Hungarian Prime Minister Viktor Orban. This meeting was the first formal talks between the two since Trump’s return to political power and their close continued relationship was on full display.
Viktor Orban has remained one of Trump’s most steadfast allies in Europe, despite the backdrop of the ongoing war in Ukraine. During their discussions, Orban defended Hungary’s dependence on Russian energy, asserting that pipelines are “neither ideological nor political, but a physical reality.” Hungary is all in on Russian oil and gas. That dependency has turned into a major and growing liability as the nation’s economy continues to falter.
Now, the U.S. has blacklisted two of Russia’s largest oil companies. As if that wasn’t enough, Trump has threatened secondary sanctions on anyone doing business with them. He recognized the special circumstances of Orban’s administration.
“It’s very difficult for him [Orban] to get the oil and gas from other areas,” Trump remarked, highlighting the challenges Hungary faces in securing alternative energy sources. This urgency to achieve energy security is compounded by the current state of Hungary’s already fragile economy.
In response to these troubling dynamics, Trump floated a possible exemption for Hungary. “I would consider allowing Viktor [Orban] to buy Russian oil,” he stated, signaling a willingness to accommodate Hungary’s situation under specific circumstances.
Orban has been vocal about the impact of U.S. tariffs on European goods, which have adversely affected Hungary’s export-driven car industry. His administration is now attempting to appease nervous voters by promising them “cheap Russian energy.” This shift further complicates Hungary’s energy landscape amid tensions inflamed due to the war in Ukraine’s impact on European security.
Behind the scenes, these conversations dove deeper into the current geopolitical landscape. Both Orban and Trump committed themselves to peace in Ukraine with unusual forcefulness. Trump asserted that “he [Orban] understands Putin and knows him very well,” suggesting that Orban could play a role in efforts to resolve the conflict.
Hungary’s Foreign Minister echoed this sentiment by stating that the country requires “a full and unlimited exemption from sanctions on oil and gas” to stabilize its economic conditions.