Hungary Evaluates Impact of U.S. Sanctions on Gazprombank

Hungary's foreign ministry is assessing the implications of new U.S. sanctions on Russia's Gazprombank. The country, which depends on Gazprom for 4.5 billion cubic meters of natural gas annually under a 15-year agreement, may contact its supplier if necessary.

The foreign ministry of Hungary is currently examining the impact of the latest U.S. sanctions imposed on Russia's Gazprombank, according to an email response to Reuters on Thursday.

With a significant portion of its energy supply hinged on a 15-year contract established in 2021, Hungary receives 4.5 billion cubic meters of natural gas from Russia, delivered by Gazprom.

In light of new sanctions, Hungary aims to communicate with its natural gas supplier should the circumstances demand such action.

(With inputs from agencies.)