Europe

Iran oil price shock fuels Hungary's campaign against Russia sanctions
Europe

Iran oil price shock fuels Hungary's campaign against Russia sanctions

by Martin Fornusek

Editor's note: The story has been updated with the latest developments. The joint U.S.-Israel attack against Iran just gave Hungary fresh ammunition in its crusade against the EU sanctions on Russia. In the wake of Israeli attacks against Iranian oil facilities and the effective closure of the Strait of Hormuz, global oil prices briefly climbed above the $100‑per‑barrel mark for the first time since 2022. Hungary's leader Viktor Orban urged the EU on March 9 to lift sanctions on Russian energ

News Feed

Ukraine war latest: 'Fuel tanks are burning' — Major Russian oil hub hit in Ukrainian drone strike in Krasnodar Krai

Key developments on March 12: * 'Fuel tanks are burning' — Major Russian oil hub hit in Ukrainian drone strike in Krasnodar Krai, SBU source says * World’s largest oil producer Aramco in talks to buy Ukrainian interceptor drones, WSJ reports * Hungary's unrecognized Druzhba delegation arrives in Kyiv amid 'absurd' standoff * Ukraine, Romania sign strategic partnership declaration, set to co-produce drones Ukrainian forces struck infrastructure at the Tikhoretsk oil pumping station in Russi

Most Popular

1.

A Saudi Arabian arms company has signed a deal to buy Ukrainian-made interceptor missiles, the Kyiv Independent has learned, with one source within Ukraine's defense industry saying that Riyadh and Kyiv are negotiating a separate "huge deal" for arms that could be finalized this week. Iran’s recent air attacks across neighboring Gulf States amid the U.S. and Israel-led war against Tehran have kicked off a scramble for military equipment to combat ballistic missiles and Shahed attack drones. Wh

News Feed