Hungary criticizes US sanctions on Gazprombank as 'threat to energy security', Bloomberg reports
Hungary criticized U.S. sanctions on Gazprombank, stating that they pose a threat to the energy security of Central European countries, Bloomberg reported on Nov. 22.
The move is an “attack on our sovereignty,” Foreign Minister Peter Szijjarto said, speaking at the Istanbul Energy Forum. “Hungary is grateful to Turkey, Bulgaria, and Serbia for ensuring a very safe, very reliable, and very stable transit.”
Along with Slovakia and Austria, Hungary remains reliant on Russian gas, paid for through the now-sanctioned Gazprombank.
Hungary receives roughly 4.5 billion cubic meters of Russian gas on an annual basis under a 15-year deal signed in 2021.
Gazprom and Hungary's MVM energy company signed a memorandum of understanding on increasing gas supplies at a forum in St. Petersburg on Oct. 10.
Budapest is broadly seen as the most Moscow-friendly country within the EU and NATO, repeatedly obstructing aid to Kyiv and sanctions against Russia.
Szijjarto has also repeatedly visited Russia throughout the full-scale war, a step that his European colleagues avoided.
Abbey Fenbert
