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Orbán says Hungary seeks to bypass U.S. sanctions on Russian oil firms

global.espreso.tv
Fri, 24 Oct 2025 13:30:00 +0300
Orbán says Hungary seeks to bypass U.S. sanctions on Russian oil firms
Reuters reported the information.On Wednesday, U.S. President Donald Trump, a close ally of Hungary’s leader, imposed sanctions on Russia for the first time in his second term, hitting Lukoil and Rosneft to pressure Moscow toward a ceasefire in Ukraine.Trump’s action pushed up oil prices and raised questions for Hungary and Slovakia, the EU’s largest Russian oil buyers after obtaining exemptions from EU restrictions. Orbán said he has discussed the sanctions with Hungary’s oil and gas company MOL (MOLB.BU)."We are working on how to circumvent this sanction," he said in an interview with state radio Kossuth.MOL’s refineries in Hungary and Slovakia, processing 14.2 million tonnes of crude annually, rely on Russian oil via the Druzhba pipeline. Slovnaft, MOL’s Slovak unit, said Thursday it is assessing the impact of U.S. sanctions, set to take effect in November.Last year, MOL faced delivery issues after Ukraine sanctioned Lukoil, but the company arranged to take ownership of the affected crude at the Belarus-Ukraine border to maintain supply.On Wednesday, October 22, the U.S. Department of the Treasury imposed sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, due to Moscow’s lack of readiness to end the war in Ukraine.
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