Russian President Vladimir Putin (L) with Hungary’s Foreign Minister Péter Szijjártó in Moscow on March 4, 2026
The Hungarian Foreign Minister traveled to Moscow on Wednesday to negotiate for guarantees for continuous oil and gas supplies at stable prices with the Russian leadership – regardless of the blockade in Ukraine and the threat of escalation in the Middle East. After his meeting with Russian President Vladimir Putin, Péter Szijjártó painted a serious picture of the current situation, saying that Hungary’s energy supply is currently facing “unprecedented challenges.”
The minister identified two main factors threatening Hungary’s supply. On the one hand, Ukraine is blocking transit via the Druzhba pipeline, while Croatia is disputing Hungary’s right to import Russian oil by sea. On the other hand, the war in Iran is causing massive instability on the world markets. “The threat of closure of the Strait of Hormuz, through which one-third of global oil trade and one-fifth of LNG trade is conducted, means we are facing drastic price increases,” Péter Szijjártó warned.
However, in this critical phase, the minister was able to announce a diplomatic success.
Russia has given assurances that it will continue to supply Hungary with the necessary quantities of natural gas and crude oil. Despite the international energy crisis, deliveries will continue at unchanged prices,
Minister Szijjártó announced.
This is a basic prerequisite for maintaining the Hungarian model of reducing ancillary costs, i.e., state-capped energy prices for households. Without Russian energy sources, this system would become obsolete and prices would “skyrocket,” the minister explained.
Another topic of discussion was infrastructure security. Kremlin spokesman Dmitry Peskov accused the “Kyiv regime” of blackmailing Hungary and Slovakia by blocking the Druzhba pipeline.
The Hungarian Foreign Minister went one step further and emphasized the need to protect the remaining pipelines, such as the TurkStream. He referred to information that Ukrainian actors had planned attacks on this vital gas connection.
Those who block the Druzhba pipeline have already blown up the Nord Stream pipeline,”
the politician noted.
He reaffirmed the Hungarian government’s position of staying out of international conflicts. The most important goal, he said, was to protect national security and economic stability. “We want to stay out of any war, whether it is an armed conflict or an energy war,” Minister Szijjártó said. With the guarantees received in Moscow, Budapest considers Hungary’s energy supply to be secure for the coming months – provided that the physical transport routes remain intact.
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Via MTI, Featured image: Facebook/Szijjártó Péter
The post Moscow Pledges Stable Energy Prices for Budapest Despite Global Market Crisis appeared first on Hungary Today.
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