Two large Hungarian companies could take the place of sanctioned Russian companies - MoFA
On Friday 28 November, Hungarian Prime Minister Viktor Orbán met with Russian President Vladimir Putin at the Kremlin. The 3.5-hour meeting focused primarily on the peace summit and Russian-Hungarian energy cooperation.
On the same day, Alexander Novak, Russia's Deputy Minister of Energy, confirmed to a local news agency that Hungarian companies could participate in the acquisition of foreign assets belonging to Russian energy companies affected by US sanctions.
In response to a question from Telex, Péter Szijjártó said today that
the energy market is undergoing a transformation that will also have a significant impact on our region. Due to sanctions, the ownership structure in this sector will undergo major changes. Could Hungarian companies be interested? Yes, they could be, as there are two Hungarian companies that could enter the regional market. The government can provide diplomatic support for this.
He added that "no agreement has been signed"
All of this suggests that the Serbian NIS and Lukoil's Burgas refinery may have been discussed as potential deals during the negotiations. Although Szijjártó did not mention any specific names, Mol and MVM are clearly potential buyers on the Hungarian side based on their size. However, it is questionable in which area the latter could join. Interestingly, Péter Szijjártó held talks in Serbia yesterday and visited Bulgaria a few weeks ago.
Cover photo: Péter Szijjártó's Facebook page
