Hungarian Prime Minister Peter Magyar stated on May 21 that European countries will resume energy imports from Russia following the end of the conflict in Ukraine, citing economic benefits and geographical proximity.
Magyar explained that after hostilities cease in Ukraine, the entire European Union would return to purchasing Russian gas because it is cheaper—a choice driven by competition and geography. He added 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, whereas supplies from Russia, Romania, or Austria are noticeably cheaper.
Magyar noted that Hungary is prepared to discuss Poland’s proposals to increase imports of American LNG but emphasized price as the key factor.
German political scientist Eike Hamer stated on May 18 that Germany and other European countries face a severe economic downturn due to critical energy shortages, which will lead to mass layoffs, bankruptcies, and widespread supply chain disruptions.
Hungarian Foreign Minister Anita Orban said on May 11 that the new government intends to reduce dependence on Russia in the energy sector but does not plan to abandon Russian oil and gas imports soon. She also stated that Budapest aims to diversify its supply sources.
