Hungary opened a new front in its ongoing standoff with the European Union when it said it would not support the bloc’s plan for a support package for war-torn Ukraine. Hungary’s move comes as the government of Prime Minister Viktor Orbán is running a popular campaign against EU sanctions on Russia. The European Union this […]

Hungary’s Foreign Minister Péter Szijjártó travelled to Moscow to negotiate more gas imports from Russia as Hungary braces for a tumultuous winter heating season. Hungary has been a vocal critic on the European Union’s embargo on Russian energy sources, saying a swift decoupling from Russian energy would undermine the country’s economy. Hungary’s foreign minister arrived […]

The Hungarian government declared an “energy emergency,” citing the war in Ukraine and sanctions on Russia by the European Union as the primary reasons. Under the new system, there will be a ban on the export of fossil fuels and the system of government-imposed cap on household utility prices will be revamped. The government of […]

Hungarian Prime Minister Viktor Orbán was granted a near-total exemption from the European Union’s embargo on Russian oil. Although the premier hails it as a great victory achieved in Brussels, the exemption may only deepen the rift between the bloc and Hungary. EU leaders agreed this week to grant Hungary a near-total exemption from a […]

Hungary is opposing the European Union’s proposal for a gradual ban on Russian oil imports, with Budapest claiming the plan would be equivalent to dropping an A-bomb on the country’s economy. Meanwhile, tensions are on the rise within the bloc as a handful of dissenting member states are holding up action on a new package […]

"OTP Group is supporting Ukraine using all means available to us. We are working under wartime conditions to keep the country's financial infrastructure, and thereby the economy as a whole, operational," the Group said in a statement this Friday. In addition to maintaining the operations of the Group's subsidiary in Ukraine, "we are contributing to […]

Hungarian Prime Minister Viktor Orbán concluded extensive talks with Russian President Vladimir Putin in Moscow this week as tensions simmer between Russia and the West. The Hungarian premier stressed that proposed sanctions against Moscow would be “pointless” and offered that the gap between Russia’s “security demands” and NATO members’ willingness can be bridged. After nearly […]

Hungary and Ukraine became embroiled in a bitter dispute over Hungary’s long-term natural gas supply agreement with Russia. The two countries issued stern statements as the diplomatic squabble escalated. Governments in Kyiv and Budapest are embroiled in a political standoff after Hungary signed an agreement with Russia on long-term natural gas supply. The dispute ensued […]

Russian President Vladimir Putin paid a visit to Budapest on Tuesday, an event widely seen by analysts as a demonstration that - despite Russian aggression in Ukraine - he has found a NATO and EU member that is still willing to receive him.

The Hungarian Ministry of Agriculture says direct effects of the Russian measures on Hungarian agricultural exports are negligible, and primarily cause actual difficulties only to enterprises that export exclusively or to a major extent to Russia.

The Hungarian Government will give its full support to any sanctions approved by the European Union against Russia in connection with the crisis in Ukraine, Foreign Minister János Martonyi has said on CNN, the Hungarian Foreign Ministry reports.

The Hungarian Ministry of Foreign Affairshas issued a communiqué, which states that Hungary considers illegitimate and illegal the March 16 referendum and its results in the Crimean Autonomous Republic of Ukraine as it violates the constitution.

The Russia Division of MKIK (the Hungarian Chamber of Commerce and Industry) was established in July 2003. Now, it has over a hundred Hungarian members interested in Russian relations - especially SMEs and some larger companies.

In the recent Russian country focus of Diplomacy & Trade, Leonid Shurigin, the Trade Representative of the Russian Federation in Hungary looks back at an important bilateral event, the the meeting of the Russian-Hungarian Intergovernmental Commission.

The Diplomacy & Trade Business Club (The Club) presented the Russian focus of Diplomacy & Trade at the 40-year-old Russian Cultural Center in Budapest with diplomats, businesspeople and members of the Russian community in Hungary attending.