Hungary seeks sanctions waiver to keep paying for Russian gas

Hungary has officially reached out to the United States requesting a sanctions waiver to facilitate continued payments for Russian natural gas imports through Gazprombank. This request was articulated by the Hungarian Foreign Minister Peter Szijjarto on December 4, during his visit to Washington. The plea comes in the wake of new sanctions that the United States imposed on November 21, targeting numerous Russian banks and financial entities, including Gazprombank, as part of its efforts to impede any funding to the Russian military and limit the Kremlin's ability to bypass U.S. sanctions. Hungary has historically been considered one of the most Russia-friendly nations within the EU and NATO, often seen as obstructing sanctions and aid to Ukraine amid the ongoing conflict there. This request from Hungary coincides with reports indicating that Turkey is also in negotiations with the U.S. regarding a similar exemption for Gazprombank. As geopolitical tensions rise, and with Gazprom, Russia's state-controlled gas company, preparing for scenarios involving limited natural gas supply to Europe following the expiration of agreements with Ukraine at the end of 2024, Hungary's push for a waiver highlights the balancing act that some EU nations are undertaking in their energy dependencies and diplomatic ties. In the broader context, this development is also indicative of the varying attitudes within the EU regarding compliance with U.S. sanctions, with some countries facing immediate energy needs pushing them towards seeking exceptions to avoid severe economic repercussions while navigating complex diplomatic relations with Russia and the United States.