Hungary’s Foreign Minister Péter Szijjártó has warned of a looming fuel price surge in Central Europe following new U.S. sanctions on Russia’s oil and gas industry. The latest round of sanctions on Friday comes amid a deepening of the region’s energy challenges in the wake of a rising geopolitical tensions. The foreign minister made the remarks on Sunday.
Hungarian Foreign Minister Péter Szijjártó has warned of a « severe risk » to Central European oil prices following the latest U.S. sanctions targeting Russia’s energy sector. Speaking on Sunday, Szijjártó expressed concern over the inclusion of a key Serbian oil supplier on the sanctions list, which could lead to significant fuel price hikes.
The sanctions, announced Friday, aim to pressure Moscow amid the ongoing Ukraine conflict by restricting major Russian energy firms, including Gazprom Neft and Surgutneftegas, alongside several individuals and service companies.
Szijjártó criticized the measures, emphasizing Hungary’s reliance on Russian oil via the Druzhba pipeline, which transits through Belarus and Ukraine. He pledged to work with regional partners to mitigate the fallout, adding optimism about a shift in U.S.-Hungary relations under the incoming Trump administration.
This comes amid rising tensions after Ukraine’s December decision to halt Russian gas transit, which Hungary and Slovakia have urged the EU to mediate. Oil prices in Central Europe have already surged to a three-month high, highlighting the region’s vulnerability to energy supply disruptions.
