The Prague Post - Trump gives Hungary's Orban one-year Russia oil sanctions reprieve

EUR -
AED 4.211393
AFN 72.244796
ALL 95.982096
AMD 432.319357
ANG 2.052753
AOA 1051.557417
ARS 1603.424201
AUD 1.641243
AWG 2.064125
AZN 1.954004
BAM 1.955435
BBD 2.309469
BDT 140.703754
BGN 1.960126
BHD 0.435819
BIF 3404.065016
BMD 1.146736
BND 1.467326
BOB 7.923522
BRL 6.112796
BSD 1.146686
BTN 105.842257
BWP 15.625085
BYN 3.392867
BYR 22476.027392
BZD 2.30607
CAD 1.583471
CDF 2588.183773
CHF 0.912745
CLF 0.026638
CLP 1051.798264
CNY 7.908585
CNH 7.921286
COP 4222.512346
CRC 539.499363
CUC 1.146736
CUP 30.388506
CVE 110.244435
CZK 24.575006
DJF 204.191911
DKK 7.505507
DOP 70.446859
DZD 153.116438
EGP 59.873831
ERN 17.201041
ETB 178.984913
FJD 2.555735
FKP 0.866182
GBP 0.866311
GEL 3.131037
GGP 0.866182
GHS 12.452677
GIP 0.866182
GMD 84.289519
GNF 10052.124908
GTQ 8.79336
GYD 239.895251
HKD 8.97946
HNL 30.352338
HRK 7.568004
HTG 150.351954
HUF 394.179508
IDR 19448.701448
ILS 3.605729
IMP 0.866182
INR 106.170389
IQD 1502.119799
IRR 1515669.760861
ISK 144.837141
JEP 0.866182
JMD 179.916439
JOD 0.813081
JPY 183.185402
KES 148.312334
KGS 100.281732
KHR 4598.142277
KMF 494.243657
KPW 1032.019272
KRW 1723.258101
KWD 0.352542
KYD 0.955522
KZT 561.355287
LAK 24570.416711
LBP 102681.246162
LKR 356.863432
LRD 209.830859
LSL 19.258608
LTL 3.386014
LVL 0.69365
LYD 7.316635
MAD 10.799685
MDL 20.003269
MGA 4761.111877
MKD 61.628504
MMK 2408.293814
MNT 4109.908675
MOP 9.243576
MRU 45.877442
MUR 53.33513
MVR 17.717506
MWK 1988.229122
MXN 20.584147
MYR 4.516425
MZN 73.288336
NAD 19.258608
NGN 1588.807126
NIO 42.19213
NOK 11.176343
NPR 169.34741
NZD 1.985003
OMR 0.440925
PAB 1.146586
PEN 3.954262
PGK 5.014065
PHP 68.334433
PKR 320.169477
PLN 4.298483
PYG 7397.620071
QAR 4.168222
RON 5.117429
RSD 117.34811
RUB 91.632507
RWF 1673.28787
SAR 4.303626
SBD 9.233195
SCR 17.507734
SDG 689.18878
SEK 10.871865
SGD 1.469547
SHP 0.860349
SLE 28.152796
SLL 24046.494883
SOS 654.177972
SRD 43.05769
STD 23735.121842
STN 24.495431
SVC 10.033128
SYP 126.777699
SZL 19.252409
THB 37.071728
TJS 10.99055
TMT 4.013576
TND 3.391067
TOP 2.761065
TRY 50.645643
TTD 7.776549
TWD 36.918714
TZS 2986.942825
UAH 50.565468
UGX 4311.195803
USD 1.146736
UYU 46.061408
UZS 13845.417319
VES 507.665371
VND 30152.278788
VUV 137.132233
WST 3.13652
XAF 655.834663
XAG 0.014239
XAU 0.000228
XCD 3.099112
XCG 2.066515
XDR 0.815648
XOF 655.834663
XPF 119.331742
YER 273.554311
ZAR 19.360243
ZMK 10322.005017
ZMW 22.318837
ZWL 369.248554
  • RBGPF

    0.1000

    82.5

    +0.12%

  • VOD

    0.1000

    14.41

    +0.69%

  • RELX

    -0.0400

    34.14

    -0.12%

  • NGG

    0.0900

    90.9

    +0.1%

  • BCE

    -0.1100

    25.57

    -0.43%

  • CMSC

    -0.1500

    22.99

    -0.65%

  • AZN

    -2.6000

    189.9

    -1.37%

  • GSK

    -0.8900

    53.39

    -1.67%

  • RIO

    -2.8700

    87.83

    -3.27%

  • BTI

    0.0400

    59.93

    +0.07%

  • RYCEF

    -1.1300

    16.12

    -7.01%

  • JRI

    -0.2300

    12.59

    -1.83%

  • BCC

    0.3800

    70

    +0.54%

  • BP

    0.5100

    42.67

    +1.2%

  • CMSD

    -0.1100

    22.99

    -0.48%

Trump gives Hungary's Orban one-year Russia oil sanctions reprieve
Trump gives Hungary's Orban one-year Russia oil sanctions reprieve / Photo: SAUL LOEB - AFP

Trump gives Hungary's Orban one-year Russia oil sanctions reprieve

US President Donald Trump handed Hungarian Prime Minister Viktor Orban a one-year exemption from sanctions for buying Russian oil and gas after the close right-wing allies held a chummy White House meeting on Friday.

Text size:

Trump slapped sanctions on Moscow's two largest oil companies in October after losing patience with Russian President Vladimir Putin over his refusal to end the nearly four-year-old invasion of Ukraine.

But while Trump has pushed other European countries to stop buying oil that he says funds Moscow's war machine, Orban used his first trip to the White House since Trump's return to power to push for special treatment.

As they heaped praise on each other, Trump said he was considering an exemption because landlocked Hungary had to rely on pipelines that made it dependent on Russian oil and gas.

"As you know they don't have the advantage of having sea," Trump told reporters.

Hungarian Foreign Minister Peter Szijjarto said after the meeting that Washington had granted a "full and unlimited exemption from sanctions on oil and gas."

But a White House official told AFP that Hungary's exemption was only for one year.

Hungary had meanwhile committed to purchasing US liquified natural gas worth around $600 million, the official said.

- 'Miracle' -

The Hungarian prime minister has maintained close ties with both Moscow and Washington, while often bucking the rest of the EU on pressuring Russia over its invasion of Ukraine.

Orban offered to host a summit in Budapest between Trump and Putin, although the US leader called it off in October and hit Moscow with sanctions for the first time in his presidency.

At the White House, Orban pressed his case that Russian energy was vital for Hungary."Pipeline is not an ideological or political issue. It's a physical reality because we don't have port(s)," Orban said.

Washington has given firms who work with Russian oil giants Rosneft and Lukoil one month to cut ties or face secondary sanctions, which would deny them access to US banks, traders, shippers and insurers.

Orban also said it would take a "miracle" for Ukraine to beat Moscow, underscoring the gulf between him and other European leaders on the war.

- 'Respect Hungary' -

Trump meanwhile wholeheartedly backed Orban on the touchstone issue of migration, saying that the Hungarian's European Union counterparts should show him more respect.

Orban has long thumbed his nose at the EU over migration. He has also refused to send military aid to Ukraine and opposes Kyiv's EU bid, and has had frequent run-ins with Brussels on the rule of law and other issues.

"I think they should respect Hungary and respect this leader very, very strongly because he's been right on immigration," Trump told reporters.

Trump, who has carried out a sweeping crackdown on immigration at home, again alleged a link between migrants and crime, which is not backed up by statistics in the United States.

Orban visited his "dear friend" Trump at his Mar-a-Lago residence in Florida three times last year, but the US president's return to power has had a mixed effect on Hungary.

Washington has withdrawn sanctions against top Orban aide Antal Rogan and restored the country's status in a visa waiver scheme.

But Trump's tariffs against the European Union have hit Hungary's export-oriented car industry hard, contributing to an already weak economy.

Experts said the meeting with the US president was expected to give at least a "symbolic" win to Orban, who faces an unprecedented challenge to his 15-year rule ahead of elections next spring amid economic stagnation.

Q.Fiala--TPP