Aleksandar Vučić, the Serbian president and long-time ally of outgoing Hungarian prime minister Viktor Orbán, has taken umbrage not at that friendship, but at claims by Hungary’s prime minister-in-waiting, Péter Magyar. Magyar levelled serious accusations about the Orbán-Vučić relationship, the Serbia-Hungary-Slovakia axis, and the shadowy “godfather” pulling the strings behind it.
Serbia-Hungary-Slovakia pact: who is the godfather?
Péter Magyar, leader of the Tisza Party, which secured a two-thirds majority in Sunday’s election, fielded journalists’ questions for nearly three hours at yesterday’s international press conference. The Serbia-Hungary-Slovakia ties came under scrutiny: these rest on the chummy relations between three populist leaders: Serbia’s President Vučić, Hungary’s departing Orbán, and Slovakia’s Robert Fico.
In Brussels, Bratislava and Budapest have routinely backed Russian interests. Leaked phone recordings expose this: Hungarian-Slovak efforts reportedly scrubbed relatives of sanctioned Russian oligarchs from EU blacklists, with scant national interest discernible for either Budapest or Bratislava.
Serbia’s cosy ties with Moscow are well known, though Vučić has long sought to loosen them: his country covets EU membership despite the 1990s conflicts.
At the press conference, Magyar declared he knows exactly who orchestrates this Serbia-Hungary-Slovakia alliance, though he withheld the name from reporters.
Vučić fired back in an interview on Serbian state television: “He says he knows who’s behind the Orbán, Fico, and Vučić connections. So I ask him: who is it? Come on, answer! … He hasn’t a clue, but hints it might be Putin. Were I not concerned for Hungary’s ethnic minorities here and our bilateral ties, I’d call his remarks foolish and reckless”, Euronews wrote.
Second outburst at Magyar: hands off the investigation!
Magyar also weighed in on the alleged planned bombing of the TurkStream pipeline section. He did not dismiss its plausibility, vowing his government would probe it.
Vučić snapped again: “This isn’t his country to investigate. We’ll conduct our own inquiry and brief Magyar. We’ll show he was wrong to swallow tabloid nonsense,” according to the Blikk. The president added there are plentiful red herrings, but noted a call from a Pristina number to an embassy.
Loyalty to Orbán
“I stand by my friends through thick and thin; I don’t disown them. That’s what sets great men apart from the small,” Vučić said of his bond with Orbán.
He had earlier congratulated Magyar on X (formerly Twitter): “I believe in continued good cooperation between Hungary and Serbia, and I thank Viktor Orbán for enabling such ties.”
Pásztor Bálint, head of the Alliance of Vojvodina Hungarians, also offered congratulations, but stressed that Vojvodina’s Hungarians backed Fidesz almost unanimously with some 60,000 postal votes, thanking Orbán for years of support.
If you missed our previous articles concerning the 2026 general elections:
- Hungary’s Orbán ousted after 16 years as Péter Magyar claims stunning election victory: world leaders react
- Who will Péter Magyar sack first as Hungary’s new premier? The first hit list already revealed
I wonder why Peter Magyar would think such a thing. Let’s see. In the past year or so Fico, Orban and Vucic all made trips to Moscow. To meet with whom? The Pope?
To maintain good diplomatic relations and keep the oil/Gas flowing, that’s what a mature statesman would do.
I have said numerous times that I do not think that Magyar has the personality that would make him a good premier, but, rather, a radio personality or a heavy metal singer.
That said, I, too, have been in the position of The Hungarians, as I have supported President Trump 3 times, and he is just as cranky, haughty, and thin-skinned as Magyar Péter.
As of this writing, my president has, in recent months, managed to piss off practically every component of his coalition’
How an idiot you are to support Trump 3 times. Even the donkey falls in the trap once only!!
Still though, I didnt hear that bots can vote in the USA 😂😂
To which state do you refer Mouton
Russia will gladly sell oil and gas to even Ukraine, as long as their cheques don’t bounce. Revenue from sales is absolutely critical for both their war effort as well as keeping their sclerotic, lop-sided economy afloat. They cannot afford to be fussy. You could insult Putin to his face and he’d happily deliver whatever the heck you ordered, as long as he’s confident that you’ll pay the invoice.
Magyar is famous for picking fights with everyone. Very promising!
Yes, Dear Géza – picking fights, when the leader of a little country, will not be a good habit.
Orbán Viktor weaponized his affability for Hungary’s benefit.
I hope Magyar does not destroy the good work that Orbán did in constructing perhaps the best relationship the Serbs and Hungarians have ever had.
As to ‘the Godfather’ it is just as much Xi, who is the ‘”godfather’ of these 2 countries, as it is V. Putin – perhaps even more so.
@Mouton – I go to Serbia very regularly. Lets call the economical situation concerning and the political one volatile until we find a better word for it.
Talented people are clamoring to get out of the country and those less fortunate are begging for investment,
Belgrade has permanent paramilitary installations and barriers everywhere to address potential issues (such as the weekly protests), not pleasant. Or practical – you may have to get out of the cab to walk a mile or so because part of the city is cordoned off again, for some protest or other).
Mr. Vučić is definitely on the defensive – his days of illiberal democracy or competitive authoritarianism (depending on ones point of view) may be numbered.
Great to see Magyar getting into action and working for restoring EU ties and taking distance from war-mongering Russia and Russian allies like Serbia. Magyar is good at mending the EU relations that Orban crumbled to pieces by picking up fights with EU. This is what majority of us Hungarians want – to maintain good diplomatic ties with EU. We want to be Europeans with European liberal values.
Attacking a sovereign country and starting a bloody war is simply wrong and therefore Russia should not be supported by continuing business as usual, just like EU has decided. I hope Magyar will soon get to start negotiations for alternate energy providers. Not going to be quick and easy for sure, Fidesz drove us so deep into the Russian hands, and did it against the Hungarian peoples will.
@Ostanus…
‘Fidesz drove us so deep into the Russian hands, and did it against the Hungarian peoples will.’
So, I take it you are soon to be organizing an attempt to refund Russia with all the incredibly cheap oil that they have provided y’all with, in recent years?
Estimating the exact “profit” or financial benefit Hungary receives from its energy deals with Russia is complex because the specific pricing formulas in the long-term contracts signed with Gazprom are classified as state secrets. However, we can analyze the situation through the lens of price structures, political leverage, and economic costs.
1. The Pricing Mechanism
While the Hungarian government often describes their deals as providing “cheap” gas, market data and investigative reports suggest a different reality. Since the 15-year contract was signed in 2021, the pricing is widely believed to follow the Dutch TTF (Title Transfer Facility) stock market price with a lag (often estimated at two months).
The Myth of Fixed Low Prices: In 2022, during the height of the energy crisis, calculations by independent Hungarian news outlets (like G7 and Telex) based on
Eurostat data indicated that Hungary was often paying market rates or, at times, even more than the market spot price due to the delayed pricing mechanism.
Deferred Payment Scheme: In late 2022, Hungary negotiated a deal with Gazprom to defer payments for gas if prices rose above a certain threshold. This wasn’t a discount, but rather a loan that allowed the Hungarian budget to manage liquidity during a period of extreme price volatility.
2. Strategic and Political Benefits
For the Hungarian government, the “profit” is often viewed more in terms of energy security and political stability than pure arbitrage:
Physical Security: Hungary remains one of the most dependent nations on Russian energy in the EU, receiving roughly 80–85% of its gas and 75% of its oil from Russia. By maintaining a friendly diplomatic stance, Hungary secured consistent flow through the TurkStream pipeline, avoiding the disruptions seen by countries like Poland or Bulgaria.
Domestic Policy: The “utility price cap” (Rezsicsökkentés) is a cornerstone of the current administration’s domestic popularity. While the government had to scale this back for higher-usage households in 2022 due to rising costs, the Russian deal is presented to the public as the only way to keep home heating affordable.
3. Oil Profits (The MOL Spread)
The clearest “profit” has actually been seen in the oil sector rather than gas.
The Ural-Brent Spread: Because of EU sanctions, Russian Ural crude oil has often traded at a significant discount (sometimes $20–$30 less per barrel) compared to international Brent crude.
Refinery Gains: Hungary’s energy giant, MOL, operates refineries configured to process Russian Ural crude. By buying discounted Russian oil and selling the refined products at market prices, MOL generated record-breaking profits in 2022 and 2023.
State Clawback: The Hungarian government recognized this “windfall profit” and implemented an “excess profit tax” (reaching up to 95% on the price spread) to funnel that money back into the national budget to fund the utility price cap program.
4. The Long-term Cost
While there may be short-term liquidity benefits or refinery profits, economists point to significant “negative profits” or costs:
Opportunity Cost: Reliance on Russia has slowed Hungary’s diversification into renewables and alternative LNG sources compared to its neighbors.
Currency Volatility: Large payments for Russian energy in Euros or Rubles have historically put immense pressure on the Hungarian Forint (HUF), contributing to high inflation.
Political Isolation: Hungary’s stance has led to friction within the EU, potentially affecting the release of EU recovery funds, which dwarfs the savings from any specific gas deal.
We can see the tragically heavy price we have paid for Russian oil on the battlefields and terrorbombed cities of sovereign Ukraine.