Hungary’s Only Oil Refiner Says It Can Replace Most Russian Oil Ahead of Orban–Trump Talks

Hungary’s only refiner Mol Nyrt. said it can cover most of its crude oil needs without relying on Russia—a notable shift in tone ahead of Hungarian Prime Minister Viktor Orbán’s meeting with US President Donald Trump, where Russian oil sanctions are expected to top the agenda, Bloomberg reported on November 7.

In its latest earnings report, Mol said that supplies via the Adriatic pipeline from Croatia could replace around 80% of its crude intake if Russian deliveries through the Druzhba pipeline were disrupted. The company acknowledged this option carries “higher technical risks and logistics costs,” but insisted it remains viable.

The statement marks a significant reversal for both Mol and Orbán, who have long argued that Hungary’s landlocked geography left the country dependent on Moscow for energy. Hungary currently imports roughly 90% of its oil from Russia and has benefitted from discounted prices under temporary EU sanctions exemptions, Bloomberg wrote.

Read more

Category

World

Hungary Has Alternatives to Russian Energy, Yet It Clings to the Kremlin

Feb 26, 2025 17:19

Orbán, en route to Washington, warned that failing to secure relief from new US sanctions on Russian oil would mean “hard times” for Hungarians. The meeting comes as the EU plans to phase out Russian energy imports after 2027, forcing Budapest to diversify.

Mol said it is “cautiously progressing” with refinery upgrades in Hungary and Slovakia to process non-Russian crude. However, uncertainty remains over the capacity of Croatia’s Janaf-operated pipeline, which Mol called “unproven,” though Zagreb maintains it can meet demand, according to Bloomberg.

Adding to Mol’s challenges, a major fire last month at its Hungarian refinery will cut production by up to 300,000 tons per month until repairs are completed, the company said.

Previously, it was reported that Viktor Orbán said he plans to meet US President Donald Trump in Washington next week to discuss ways to shield Hungary from the impact of new US sanctions on Russian oil.

On the Frontline of Truth

Our reporters risk their lives to show what’s really happening in Ukraine. Your support keeps them safe, equipped, and reporting.

SUPPORT FRONTLINE REPORTS