During a meeting in Moscow between Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orbán, the two leaders discussed the possibility of Hungary acquiring stakes in Russian oil companies impacted by the latest round of US sanctions.
Russian Deputy Prime Minister Alexander Novak emphasized that Hungary has been a longstanding and reliable energy partner for Russia, adding that Budapest is actively evaluating the potential acquisition. He noted that the final outcome will depend on ongoing business negotiations, which he stressed should take place discreetly and away from public scrutiny.
Energy cooperation was a central topic of the Putin–Orbán talks, particularly in relation to Hungary’s continued access to Russian oil and natural gas. The meeting occurred amid broader regional dynamics, as Hungary is also considering expanding its presence in the Serbian energy sector.
Gergely Gulyás, Chief of Staff to the Hungarian Prime Minister, recently revealed that discussions are underway regarding a possible acquisition by Hungary’s MOL of a stake in Serbian oil company NIS, currently majority-owned by Russian Gazprom. Gulyás described the potential transaction as a standard market deal, while highlighting that the talks remain in their early stages.
