Home / Market Update / Hungary and Russia talk over gas and nuclear plant

Hungary and Russia talk over gas and nuclear plant

The Hungarian Foreign Minister said Friday that he met his Russian counterpart Sergei Lavrov in New York, where they discussed gas supplies and the construction of the Pax nuclear reactor being built by Russia’s Rosatom.

Foreign Minister Peter Szijjarto said in a Facebook video after the meeting, which took place on the sidelines of the United Nations General Assembly, that he would meet with the CEO of Rosatom on Monday to discuss major developments in the nuclear plant project.

Last month, Russia’s Gazprom began increasing gas supplies to Hungary, in addition to the quantities previously agreed upon under a long-term supply agreement via the TurkStream pipeline. Moscow supplies Hungary with most of its oil and gas needs.

Hungary, a member of the European Union, strongly criticizes the sanctions imposed by the bloc against Russia for its invasion of Ukraine, and believes that the measures have failed to significantly weaken Moscow, while it may lead to the destruction of the European economy.

Check Also

Oil Markets Eying Weekly Gains Following PMI Data

Crude Oil prices rebounded after a volatile Friday, driven by a surge in the US …