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Hungary to Keep Paying for Russian Gas via OTP Bank
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Hungary to Keep Paying for Russian Gas via OTP Bank

Hungary will still settle payment for Russian gas via its biggest commercial bank, OTP after the Kremlin extended a decree allowing the practice. The unveiling was announced by Hungarian Foreign Minister Peter Szijjarto through social media on Thursday.
 

Hungary to Keep Paying for Russian Gas via OTP Bank
By Oskar Malec | Last Updated: 26 Jun 2025
“This will enable us to ensure gas supplies in the future,” Szijjarto added, noting that talks are taking place in Turkey to guarantee long-term access to low-cost Russian energy.

Continued engagement with the Russian oil industry
Szijjarto has had regular contact with Russian officials. He met in June with high-ranking officials, including Russia’s Deputy Prime Ministers Denis Manturov and Alexander Novak, Rosatom CEO Alexey Likhachev, and Gazprom CEO Alexey Miller.
Hungary sticks to its energy strategy despite forthcoming EU rules.

Hungary Resists as EU Agrees on Aim to Ban Gas
New European Union rule will end Russian gas imports — including liquefied natural gas, or LNG, shipments — on January 1, 2026. For landlocked nations, such as Hungary, the deadline is even longer—early 2028.

Hungary is against a proposed EU ban, saying it would drive up energy costs and endanger the EU’s long-term energy security. The country is also working to secure stable and cheap supplies and is actively cooperating with Russia.

 

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