Hungary Seeks US Sanctions Exemption for Gazprombank

Hungary has requested a waiver from the United States to exempt Gazprombank from recent sanctions, allowing continued payments for Russian natural gas imports, according to Foreign Minister Peter Szijjarto. The U.S. imposed new sanctions on Gazprombank on November 21, which restrict its ability to handle energy-related transactions involving the U.S. financial system, as part of broader efforts to penalize Moscow for its actions in Ukraine. Szijjarto emphasized that these sanctions could negatively impact U.S. allies reliant on Russian energy supplies, as Hungary receives about two-thirds of its gas from Russia. Despite the sanctions, Hungary has maintained close ties with Russia, with top officials frequently visiting Moscow for discussions on energy imports. The Hungarian government is seeking a similar exemption to those previously granted to other banks involved in U.S.-Russian transactions. Szijjarto indicated that he would be traveling to Washington for further consultations on the matter.