Budapest has signaled its preference for Ukraine to continue routing Russian oil through its transit system to Central European markets. The assertion came from Peter Szijjártó, head of Hungary’s Ministry of Foreign Affairs and Foreign Economic Relations, and was reported by TASS. While in talks with Ukraine’s Minister of Foreign Affairs Dmitry Kuleba and the Head of the Presidential Office Andrey Ermak, the Hungarian official urged assurances that oil would be transported reliably across Ukrainian territory. [citation: TASS]
During the discussions, Szijjártó also highlighted Hungary’s concern that several Hungarian companies are not included on Ukraine’s list of so‑called “international war sponsors,” a matter he raised with the Ukrainian side to seek clarity and fairness. [citation: TASS]
These exchanges occur as the European Union contemplates Europe’s energy security strategy in light of the looming end of the gas transit agreement between Russia and Ukraine, anticipated toward the close of 2024. EU officials are actively considering alternative routes to ensure a steady flow of gas to member states. [citation: EU communications]
Analysts note that even countries heavily dependent on Russian gas, such as Austria and Slovakia, may seek different suppliers if Ukrainian transit were interrupted. The broader aim across the bloc is to diversify energy connections while maintaining stable supplies for households and industries. [citation: energy market analyses]
Observers also point out that Russia’s budget has historically depended on revenue from oil and gas. Recent sanctions measures and market dynamics have contributed to shifts in fiscal performance, with some sectors experiencing increases in certain periods, even as broader energy flows face pressure. [citation: economic briefings]