Hungary is seeking an extension of a one-year exemption from US sanctions on the use of Russian oil and gas. The current measure expires in November, with the Hungarian Foreign Ministry citing November 21 as the specific deadline.
Foreign Minister Anita Orbán said Budapest is working to extend the exemption beyond that date. She said Hungarian energy group MOL needs more time for technological changes that would allow it to diversify its oil and gas sources.
Dependence on Russia remains high
More than 90% of Hungary's oil and natural gas imports come from Russia via pipelines running through Ukraine, Bulgaria and Serbia. This dependence puts the energy-intensive Hungarian economy in a vulnerable position amid the European Union's policy of phasing out Russian energy supplies.
“Hungary wants temporary protection from US sanctions on Russian energy purchases while it continues to work to reduce its dependence,“ said Márton Hajdu, chairman of the parliamentary foreign affairs committee. He indicated that Russian oil will likely remain part of the country's energy mix for the foreseeable future.
The exemption was agreed upon under Trump and Orbán
The exemption was agreed upon after US President Donald Trump met with then Hungarian Prime Minister Viktor Orbán in Washington in November 2025. After the talks, Orbán presented the measure as a general exemption from sanctions, while the American side defined it as a one-year one.
Following the elections in April 2026, Viktor Orbán lost power after 16 years in power, and the government of Péter Magyar declared a course towards reducing dependence on Russian energy. The new cabinet is simultaneously seeking time for MOL's technological transition and developing alternative supply routes, including an oil pipeline connection through Croatia.
The Hungarian Foreign Ministry specifies that the expiration of the exemption on November 21 does not automatically lead to sanctions. In order to impose punitive measures against the country, a separate decision by the US authorities would be required.
Sources: marketscreener.com, index.hu, aol.com