
Hungary to Increase Oil Exports to Serbia Amid Refinery Sanctions
A Budapest initiative aims to boost Belgrade, which faces a potential shutdown of its Pančevo refinery as U.S. sanctions bite Russian-owned assets.

A Budapest initiative aims to boost Belgrade, which faces a potential shutdown of its Pančevo refinery as U.S. sanctions bite Russian-owned assets.

“Hungary will continue to have the lowest energy prices in Europe,” PM Viktor Orbán said.

Berlin says state-run refineries are now independent from the Russian energy company, Rosneft, and remain crucial for Germany’s fuel supply.

The International Energy Agency says India bought 1.9 million barrels of oil per day in the first nine months of 2025, which is 40% of Russia’s total exports.

Newspapers are trying to force strains between Washington and Budapest. But Trump himself is aware of the media’s many tricks.

American firms are prohibited from doing business with Russia’s top two oil companies.

The closure of the refinery would be “a catastrophic blow” to the region’s economy.

The top level meeting in London ended with all leaders pledging to send more money and weapons to the front.

PM Viktor Orbán has begun talks with oil company MOL on solutions to the new circumstances.

Brussels and Washington unveil new measures targeting the Kremlin’s energy core in a bid to force an end to the war in Ukraine.