Zürcher Nachrichten - Hungary's Orban wins Russian oil sanctions exemption from Trump

EUR -
AED 4.359552
AFN 75.384238
ALL 96.44421
AMD 446.473198
ANG 2.124552
AOA 1088.55164
ARS 1661.020403
AUD 1.67312
AWG 2.136742
AZN 2.022747
BAM 1.955683
BBD 2.388457
BDT 145.031294
BGN 1.955886
BHD 0.445273
BIF 3498.289996
BMD 1.187079
BND 1.49891
BOB 8.194508
BRL 6.195844
BSD 1.185829
BTN 107.412552
BWP 15.640061
BYN 3.398596
BYR 23266.743286
BZD 2.384957
CAD 1.616505
CDF 2676.862986
CHF 0.913459
CLF 0.025942
CLP 1024.334888
CNY 8.201112
CNH 8.192048
COP 4345.239153
CRC 575.165473
CUC 1.187079
CUP 31.457587
CVE 110.258381
CZK 24.269873
DJF 211.167324
DKK 7.470885
DOP 73.875565
DZD 153.128808
EGP 55.336678
ERN 17.806181
ETB 184.681114
FJD 2.603917
FKP 0.870113
GBP 0.871538
GEL 3.175483
GGP 0.870113
GHS 13.050217
GIP 0.870113
GMD 87.254859
GNF 10408.37518
GTQ 9.095454
GYD 248.095107
HKD 9.281116
HNL 31.332119
HRK 7.536293
HTG 155.490666
HUF 379.189022
IDR 19981.859
ILS 3.66894
IMP 0.870113
INR 107.503085
IQD 1553.506742
IRR 50005.692072
ISK 145.025867
JEP 0.870113
JMD 185.588859
JOD 0.841686
JPY 181.261035
KES 152.910821
KGS 103.810492
KHR 4769.713672
KMF 492.638092
KPW 1068.376827
KRW 1710.414727
KWD 0.363971
KYD 0.988241
KZT 586.834772
LAK 25448.472316
LBP 106192.625206
LKR 366.677988
LRD 221.096727
LSL 19.032557
LTL 3.505135
LVL 0.718053
LYD 7.476551
MAD 10.843449
MDL 20.135791
MGA 5187.688581
MKD 61.6363
MMK 2492.77048
MNT 4252.088626
MOP 9.549827
MRU 47.262163
MUR 54.491355
MVR 18.286994
MWK 2056.276561
MXN 20.375974
MYR 4.638515
MZN 75.86665
NAD 19.032557
NGN 1606.596787
NIO 43.63738
NOK 11.284494
NPR 171.859683
NZD 1.973367
OMR 0.454153
PAB 1.185929
PEN 3.978561
PGK 5.090694
PHP 68.670729
PKR 331.66589
PLN 4.211459
PYG 7777.533111
QAR 4.321841
RON 5.094234
RSD 117.412952
RUB 91.6245
RWF 1731.296069
SAR 4.450665
SBD 9.550265
SCR 15.99604
SDG 714.032225
SEK 10.591715
SGD 1.499879
SHP 0.890617
SLE 29.024515
SLL 24892.446849
SOS 677.15935
SRD 44.817016
STD 24570.133197
STN 24.498529
SVC 10.376377
SYP 13128.586221
SZL 19.028858
THB 36.894845
TJS 11.188428
TMT 4.154776
TND 3.419095
TOP 2.858201
TRY 51.766728
TTD 8.049517
TWD 37.255324
TZS 3095.014205
UAH 51.14143
UGX 4197.748007
USD 1.187079
UYU 45.717256
UZS 14574.125108
VES 466.201517
VND 30828.434854
VUV 140.781864
WST 3.219612
XAF 655.917625
XAG 0.015357
XAU 0.000236
XCD 3.20814
XCG 2.137172
XDR 0.815751
XOF 655.917625
XPF 119.331742
YER 282.940648
ZAR 18.934979
ZMK 10685.137401
ZMW 21.552706
ZWL 382.23887
  • RBGPF

    0.1000

    82.5

    +0.12%

  • BCE

    -0.1200

    25.71

    -0.47%

  • BCC

    -1.5600

    86.5

    -1.8%

  • CMSD

    0.0647

    23.64

    +0.27%

  • CMSC

    0.0500

    23.75

    +0.21%

  • GSK

    0.3900

    58.93

    +0.66%

  • JRI

    0.2135

    13.24

    +1.61%

  • RELX

    2.2500

    31.06

    +7.24%

  • NGG

    1.1800

    92.4

    +1.28%

  • AZN

    1.0300

    205.55

    +0.5%

  • RIO

    0.1600

    98.07

    +0.16%

  • BTI

    -1.1100

    59.5

    -1.87%

  • VOD

    -0.0500

    15.57

    -0.32%

  • BP

    0.4700

    37.66

    +1.25%

  • RYCEF

    0.2300

    17.1

    +1.35%

Hungary's Orban wins Russian oil sanctions exemption from Trump
Hungary's Orban wins Russian oil sanctions exemption from Trump / Photo: SAUL LOEB - AFP

Hungary's Orban wins Russian oil sanctions exemption from Trump

US President Donald Trump handed Hungarian Prime Minister Viktor Orban an exemption from sanctions to keep buying Russian oil on Friday, as the right-wing allies held a chummy White House meeting.

Text size:

As Orban and Trump heaped praise on each other, the Hungarian nationalist said it would take a "miracle" for Ukraine to beat Moscow, underscoring the gulf between him and other European leaders on the war.

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

Hungarian Foreign Minister Peter Szijjarto hailed what he called the "major outcome" of the meeting, Orban's first at the White House since Trump returned to power in January.

"The United States has granted Hungary a full and unlimited exemption from sanctions on oil and gas. We are grateful for this decision, which guarantees Hungary's energy security," Szijjarto said on X.

Trump had earlier said he would consider giving landlocked Hungary a pass because it has to rely on pipelines, leaving it heavily dependent on Russia despite EU efforts to wean it off.

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

- Canceled summit -

Orban, who has often bucked the rest of the EU on pressuring Russia over its invasion of Ukraine, pressed his case that Russian energy was vital for his country.

"Pipeline is not an ideological or political issue. It's a physical reality because we don't have port(s)," Orban said.

Hungary -- the closest ally in the European Union of both Trump and the Kremlin -- has also offered to host a summit in Budapest between Trump and Russian President Vladimir Putin.

Trump called off the summit in October amid growing frustration with Putin's refusal to end his invasion of Ukraine, and slapped Russia's two biggest oil companies with sanctions.

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.

- 'Respect this leader' -

Experts say 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.

Trump told European Union leaders to show more respect to Orban, who has thumbed his nose at them over migration.

"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.

Daniel Hegedus, central Europe director at the German Marshall Fund (GMF), had predicted that Trump would show some flexibility on Orban's request on the oil sanctions.

"I expect Trump will give a victory to Orban that he can sell at home and strengthens his position, as the administration actively supports political forces that divide the EU," he said.

Orban -- who has refused to send military aid to Ukraine and opposes Kyiv's EU bid -- has had frequent run-ins with Brussels on the rule of law and other issues.

burs-dk/des

R.Schmid--NZN