Hungarian Prime Minister Viktor Orbán held talks in Moscow on Friday with Vladimir Putin, focusing on energy issues and the potential expansion of assets held by the Hungarian oil and gas company MOL in the Balkans and Romania. According to reports, one of the central topics was the possibility of MOL taking over the assets of Russian oil companies currently under sanctions.
Russian Deputy Prime Minister Alexander Novak confirmed that Budapest is already working on such a transaction. The deal would reportedly involve purchasing Gazprom Neft’s stake in the Serbian company NIS, as well as potentially acquiring Lukoil’s distribution networks in Bulgaria and Romania. According to the Russian side, this would allow these assets to continue operating despite existing restrictions.
Orbán’s visit sparked strong reactions across Europe. German Chancellor Friedrich Merz and the European Commission criticized the Hungarian prime minister for traveling “without a European mandate,” suggesting that talks with Moscow under current circumstances do not align with the EU’s political stance. Putin, on the other hand, described Orbán’s approach as “pragmatic” and expressed readiness to host a peace summit in Budapest if Hungary were willing to take on such a role.
