The United States has extended Hungary’s exemption from sanctions against Russia’s “Gazprombank,” allowing the country to continue making payments for Russian gas. This was announced by Hungarian Foreign Minister Péter Szijjártó on March 21 during his visit to Ankara.
In a joint press conference with his Turkish counterpart Hakan Fidan, Szijjártó stated that Hungary would be able to continue purchasing gas through “Gazprombank” without restrictions until May 2024. The bank has been under U.S. sanctions since November 2024, when they were imposed to pressure Russia by halting gas sales. However, the U.S. granted exceptions to major importers of Russian energy, such as Turkey and Hungary.
The Hungarian government emphasizes that halting Russian gas supplies would pose a threat to the country’s energy security, as there are no alternative sources capable of fully replacing Russian gas. It was recently revealed that the U.S. also extended its exemption from sanctions for Turkey until May 2024.
