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Putin could erase Hungary’s economic strategy with a single stroke of the pen
Russian President Vladimir Putin has stated that he has instructed his government to examine how supplies of Russian gas to Europe, including Hungary, might be completely halted. Péter Szijjártó, Hungary’s Foreign Minister, was in Moscow yesterday and met with the Russian president, but according to official briefings, this issue was not discussed.
Putin may cut gas deliveries to Europe
Yet such a decision would strike at the heart of Hungary’s energy supply. In 2025 alone, 7.8 billion cubic metres of Russian pipeline gas arrived via TurkStream, accounting for the lion’s share of Hungary’s consumption.
Putin’s remarks are unlikely to stem from any desire to single out Hungary. More plausibly, they reflect the European Union’s own policies: member states are set to phase out purchases of Russian LNG by early 2027, and piped Russian gas by year’s end. According to Portfolio, Russia supplied 12% of the EU’s total gas imports last year, equivalent to 16.8 billion cubic metres.
Putin claims Russia now faces a crossroads because more promising markets have opened up beyond Europe. Among EU states, France, the Netherlands and Belgium still imported Russian LNG last year (to the value of EUR 157 million, EUR 65 million and EUR 64 million respectively). By contrast, Hungary’s bill stood at EUR 416 million and Slovakia’s at EUR 275 million, Al Jazeera reports.
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Yes, this will be a self-inflicted problem for Hungary. Given the EU’s planned embargo against Russian gas, Kremlin chief Vladimir Putin is considering halting deliveries himself, even before the embargo takes effect.
“Now other markets are opening up (my note: yes, thanks to Trump’s inept behavior). And perhaps it’s more advantageous for us to stop deliveries to the European market immediately,” Putin said in an interview with Russian state television, which was also published by the Kremlin. According to the interview, the president is considering preempting the EU sanctions.
I just wonder why the Hungarian foreign minister was in Russia if he didn’t discuss this. Of course, the two of them discussed it! It wasn’t just about a few publicity-generating images and measures to support Orbán in his election campaign.
The question is, is this the new Hungarian-Russian strategy in the fight against the EU, and has the Hungarian Foreign Minister simply received new Russian orders, or is Putin trying to help Orbán in his election campaign? I assume the latter, because switching gas buyers isn’t so easy.
Russia has been trying for some time to pressure the Chinese to significantly increase their share of Russian gas. But the Chinese are very hesitant; they don’t want to be dependent on one supplier, or even a dominant one, like the EU was in the past. Furthermore, the capacity of the existing pipelines is limited. They can’t be expanded at will.
I think they just want to spread additional panic because of the high prices to support Orbán. So, more words than action!
Perhaps this is also the beginning of the end, and Orban, if he wins the election, is preparing to leave the EU, which I don’t believe. Or perhaps he doesn’t want to adhere to EU agreements and wants to put pressure on the EU with the help of his own people. In that case, however, he would have the problem of how to get gas to Hungary. Even though the EU often acts very leniently, I don’t think they will be accommodating to Hungary.
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