Hungary, Bulgaria Resolve Russian Gas Transit Issue

Hungary and Bulgaria have reportedly found a legal and financial solution to continue the transit of Russian gas amid U.S. sanctions on Gazprombank. Hungarian Foreign Minister Peter Szijjártó announced that this agreement allows Hungary to pay for gas supplies without violating sanctions, although specific payment details remain undisclosed. Hungary relies heavily on this gas route, having imported over 7 billion cubic meters this year alone. Bulgaria expressed a more cautious stance, indicating that only an 'option' was discussed, emphasizing that they could halt transit if a solid payment method is not secured. This development follows Russian President Vladimir Putin's recent decree allowing gas payments to be processed through banks not under sanctions, a shift intended to alleviate market concerns about gas supply disruptions. Both countries aim to maintain energy security while navigating geopolitical tensions surrounding their reliance on Russian gas.