Hungary's Strategy to Navigate U.S. Sanctions on Russian Oil

Hungarian Prime Minister Viktor Orban announced efforts to bypass U.S. sanctions on Russian oil firms. This follows U.S. President Donald Trump's sanctions on Lukoil and Rosneft. Orban has engaged in discussions with Hungarian oil company MOL to manage the potential impact on Hungary's energy sector.

Hungary is strategizing to navigate the new U.S. sanctions imposed on Russian oil companies, according to a statement from Prime Minister Viktor Orban. In his address on state radio Kossuth, Orban revealed ongoing discussions with Hungarian oil and gas company MOL.

The U.S. sanctions, introduced by President Donald Trump earlier this week, specifically target key Russian energy players Lukoil and Rosneft. These sanctions mark the first imposition of such measures in Trump's second term as President.

As Orban seeks ways to mitigate the impact on Hungary's energy landscape, his government's actions underscore the broader geopolitical ramifications of these U.S. sanctions and their potential effects on international energy markets.

(With inputs from agencies.)