Hungary expresses anger over US sanctions against Russian bank Gazprombank – Bloomberg

Hungarian Foreign Minister Péter Szijjártó has said that the US sanctions against Gazprombank, a private-owned Russian bank, threaten the energy security of some Central European countries.

Source: European Pravda citing Bloomberg

Details: Szijjártó said that sanctions against Gazprombank are "an attack on our sovereignty," so Hungary is "reviewing the situation with the energy ministers of Türkiye, Azerbaijan, Bulgaria and Serbia."

"Hungary is grateful to Türkiye, Bulgaria and Serbia for ensuring a very safe, very reliable and very stable transit [of gas – ed.]," the Hungarian foreign minister said.

Hungary, along with Slovakia and Austria, is one of several EU countries that still depend on Russian gas supplies. They pay for it through the now-sanctioned Gazprombank.

Bloomberg writes that the interruption of current gas supplies from Russia to Europe could increase competition for global supplies and lead to higher prices for natural gas, which would hit European consumers.

Background:

• In recent years, Hungary has signed several agreements with Gazprom for additional gas supplies.
• Viktor Orbán, Hungary's Prime Minister, believes that the European Union needs to review sanctions against Russia, as he thinks they are keeping energy prices high.

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