Overview
- A White House official said the exemption lets Hungary keep importing Russian oil via the Druzhba pipeline and gas via TurkStream for one year.
- Hungary agreed to purchase roughly $600 million of U.S. LNG and to deepen nuclear cooperation, including sourcing fuel from Westinghouse and exploring small modular reactors.
- MOL stated it can cover about 80% of refinery needs through the Adriatic pipeline if Druzhba flows fall, though it warns of higher technical risks, added costs, and disputed capacity.
- The refiner said it is progressing with upgrades in Hungary and Slovakia to process more non‑Russian crude, following recent operational setbacks that reduced output.
- IMF data show Hungary relied on Russia for 86% of its oil and 74% of its gas last year, and new U.S. sanctions on Rosneft and Lukoil take full effect on November 21.