Supported by
Hungary is expected to agree on a new oil supply deal with the United States during Vice President JD Vance’s visit to Budapest.
Under the reported arrangement, Hungarian energy group MOL Group is set to purchase 500,000 tons of oil worth around 500 million dollars. Further details of the transaction have not yet been disclosed.
In recent years, MOL has increased its purchases of Russian crude after securing sanctions exemptions from both the United States and the European Union. The planned agreement with the United States would therefore represent a notable addition to Hungary’s energy sourcing strategy, further diversifying its supply portfolio.
Supported by
