Hungary Asks US to Exempt Gazprombank from Sanctions for Gas Payments

Hungary has formally requested that the United States grant an exemption to sanctions imposed on Russia’s Gazprombank for payments related to natural gas.

Hungarian Foreign Minister Péter Szijjártó announced this on December 4, citing potential negative consequences for US allies.

“Yesterday, we submitted our request to the relevant American authorities to provide an exemption for Gazprombank regarding payments for natural gas,” Szijjártó stated during a briefing in Brussels following a NATO foreign ministers' meeting.

The United States imposed new sanctions on Gazprombank on November 21, prohibiting the bank from engaging in any new transactions involving energy-related dealings linked to the US financial system. These measures are part of broader efforts to restrict Russia’s access to the international financial system.

Szijjártó referenced US Secretary of State Antony Blinken, who had expressed willingness to consult with allies experiencing challenges due to sanctions.

Hungary, heavily reliant on Russian gas, receives approximately two-thirds of its natural gas imports from Russia.

Earlier, Turkey engaged in discussions with the United States to seek exemptions from sanctions on Russian gas payments. The negotiations focused on allowing Turkey to continue using Gazprombank for natural gas import transactions.

Turkey’s Energy Minister, Alparslan Bayraktar, emphasized the critical need for US approval, stating, “We won’t be able to pay Russia” without an exemption.