US extends Gazprombank sanctions waiver to Hungary

Speaking at a joint press conference with his Turkish counterpart Hakan Fidan, the Hungarian foreign minister recalled that the sanctions imposed by the previous US administration on payments to Russia's Gazprombank were due to come into force on 20 March, but that Washington had again extended the exemption from the sanctions.

According to a notification from Washington yesterday, our exemption from the Gazprombank sanctions has been extended by the US administration again, this time until May. Hungarian gas supplies are therefore still secure.

He recalled that the Turkish Stream pipeline is particularly important for the security of gas supply in Hungary, through which a record 7.6 billion cubic metres of natural gas were delivered last year, and the volume delivered so far this year has exceeded 20 million cubic metres per day.

He pointed out that for the first time in its history Hungary had purchased gas directly from Türkiye and that MVM had already resumed negotiations with BOTAS to continue this. He also welcomed the continuation of strategic cooperation between Hungarian and Turkish oil companies, as

Mol and TPAO have agreed to jointly bid for exploration in Hungary, to establish a joint venture and the Turkish side plans to invest more than USD 15 million in Hungary.

"Mol and TPAO, which already work together successfully in Russia, Türkiye and other countries, are preparing joint projects in new areas, Szijjártó added.

Cover photo: Péter Szijjártó's Facebook page