Hungary has asked U.S. authorities to grant an exemption from sanctions for Russia’s Gazprombank to allow the continuation of natural gas payments, according to Hungarian Foreign Minister Peter Szijjarto.
At a briefing on Wednesday, Szijjarto confirmed that the Hungarian government had formally submitted a request to U.S. officials, seeking an exemption for Gazprombank in connection with payments for Russian gas. Reuters reported his statement.
This follows the U.S. Department of the Treasury’s decision last month to sanction Gazprombank as part of a broader effort to limit Russia’s access to the international financial system. The Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Gazprombank, alongside more than 50 Russian banks, over 40 securities registrars, and 15 Russian financial officials. The move was framed as a step toward fulfilling commitments made by G7 leaders to reduce Russia’s economic leverage in its ongoing war against Ukraine.
Prior to these sanctions, Gazprombank had been used by Russian energy customers in Europe to process payments for natural gas. Hungary, which continues to receive about two-thirds of its gas from Russia, has been relying on Gazprombank for these transactions.
Unlike many other EU countries, Hungary has maintained its energy ties with Russia. Hungarian leaders, including Szijjarto and Prime Minister Viktor Orban, have made multiple visits to Moscow for talks with Russian officials, including President Vladimir Putin.
Earlier this week, Szijjarto met with Russian Foreign Minister Sergey Lavrov, Deputy Prime Minister Alexander Novak, and representatives from major Russian energy companies to discuss the future of oil and gas imports.
Szijjarto emphasized that the sanctions on Gazprombank have created a challenging situation for countries still dependent on Russian energy resources. He made these comments during his visit to Russia, as reported by Euronews.
In a similar move, Turkey is also seeking a U.S. sanctions waiver to continue using Gazprombank for its energy imports from Russia while engaging with Russian officials on future energy trade and payment methods.
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