US extends exemption for Hungary from impact of Gazprombank sanctions

The United States government has extended Hungary’s exemption from the effect of sanctions against Russia’s Gazprombank until May, Minister of Foreign Affairs and Trade Péter Szijjártó said in Ankara on Friday.

In a statement issued by his ministry, Szijjártó noted that the sanctions against Gazprombank, introduced by the outgoing American administration days before their term of office ended, had put Hungary and other countries in the region in a difficult position in terms of gas supply.

He said the step was a “hostile move” by the Biden administration and acknowledged the Trump administration’s “common sense” understanding that geography and infrastructure were the deciding factors of energy supply.

Direct gas purchase from Türkiye

At a joint press conference with his Turkish colleague, Hakan Fidan, Szijjártó said Türkiye was a dependable partner on whom Hungary relied for its energy security, pointing to the 7.6 billion cubic metres of gas that were delivered through the TurkStream pipeline last year.