To put it as it is: Hungary will keep projects with Russia
Budapest does not intend to review or terminate agreements with Russia, including the contract for the construction of the Paks-2 nuclear power plant and the purchase of resources, the Hungarian Embassy in Moscow told Izvestia. Earlier, the new head of the country's defense ministry announced plans to cut ties with the Russian Federation, and an investigation was launched against former Foreign Minister Peter Szijjarto. In May, a new government led by Peter Magyar came to power in Hungary. Experts believe that he is unlikely to completely curtail cooperation with Rosatom and purchases of our energy resources. However, relations with Moscow will no longer be a priority for Budapest.
The future of Russian projects in Hungary
The new Hungarian government, led by Peter Magyar, which came to power in May, is gradually changing the country's foreign policy course. She intends to "slam the door on Russia" so that her NATO and EU allies can trust her again, the country's defense minister Romulus Rusin-Sendy recently said. In addition, an investigation was initiated into contacts with Russia by former Minister of Foreign Affairs and Foreign Economic Relations Peter Szijjarto.
However, Budapest has no plans to end economic cooperation with Russia, the Hungarian Embassy in Moscow told Izvestia. They stressed that the country strives to maintain relations based on mutual respect and pragmatic cooperation.
"The statement quoted in the press cannot be interpreted as a general statement on Hungarian—Russian relations and is not a decision to review or terminate any agreements affecting our bilateral economic cooperation," the Hungarian diplomatic mission in Russia noted.
During the previous government led by Viktor Orban, cooperation between Moscow and Budapest was steadily developing. In 2021, the parties signed a 15-year gas supply agreement, under which Hungary received 7.8 billion cubic meters of natural gas in 2025 alone. According to analytical centers, the share of Russian oil in Hungary's imports is 92%.
In addition, Budapest buys fuel from Russia for its Paks nuclear power plant, and Rosatom specialists are building Paks-2. The Hungarian Atomic Energy Agency told Izvestia that "they are continuously overseeing the construction of new nuclear power plants."
At the same time, in early July, the new Hungarian government replaced the management team that led this project. Even after the results of the voting after the elections, the leader of the victorious Tisa party, Peter Magyar, admitted that the Hungarian government, if necessary, would review all agreements related to Paks-2. At the same time, the politician said that Hungary would not stop buying Russian oil, and called dialogue with Moscow "inevitable."
The Magyar government is unlikely to take drastic steps to break off the dialogue with Russia on Paks-2, since construction has already begun, and the search for new contractors will delay its commissioning, Mikhail Vedernikov, a leading researcher at the Institute of Europe of the Russian Academy of Sciences, told Izvestia. In his opinion, in order to soften the position of Brussels, Budapest may decide that fuel for nuclear power plants will be supplied not by Rosatom subsidiaries, but by other suppliers, following the example of other nuclear power plants in Central Europe.
Does the EU manage to completely isolate the market from the Russian Federation
The issue of relations with Russia is not a matter of principle for Hungarian society, says Vadim Trukhachev, associate professor at the Financial University. Magyar's main focus is on protecting the rights of the Hungarian minority in Transcarpathia and opposing the new EU migration pact. Therefore, he is ready to make concessions to the EU on the issue of relations with the Russian Federation, although he is unlikely to completely abandon purchases of Russian oil.
Hungary's revision of economic agreements with the Russian Federation is related, among other things, to the desire to return blocked funds from euro funds. Under Orban, Brussels froze €35 billion due to his refusal to carry out the required reforms of the judicial system and security services. Magyar partially agreed to such conditions and achieved the unfreezing of €16.4 billion. Obviously, severing ties with Russia is also on the list of EU requirements.
After the start of its conflict, Brussels sharply increased the sanctions pressure on Moscow and consistently stops cooperation in all areas. For example, in August 2022, a ban on the import of Russian coal came into effect, oil supplies stopped in December of the same year, and petroleum products stopped in February 2023. All this is most painful for Hungary. Therefore, exceptions are provided for Budapest for imports via the Druzhba oil pipeline, but its operation has been stopped several times by Ukraine.
The situation for Budapest and Bratislava is in danger of getting worse. According to the European Commission's plan, Russian gas and LNG supplies should stop by the end of next year. A ban on the purchase of nuclear fuel from the Russian Federation was also considered, but the decision has been postponed for now.
Slovakia has similar privileges, which also imports pipeline gas and oil through Druzhba. Bratislava is also buying nuclear fuel for its Mokhovce and Bogunice nuclear power plants, the contract is valid until 2030. At the same time, the Slovak government also supports political dialogue: Prime Minister Robert Fico attended Victory Day celebrations in Moscow in 2025 and 2026, where he held talks with the Russian president.
Other EU countries maintain economic cooperation in certain energy sectors. For example, Belgium, Spain and France are the leaders in purchasing Russian LNG. In the first half of 2026, EU states imported a record 9.89 million tons of Russian liquefied natural gas, which is 18% more than in the same period of 2025. Experts and politicians have also repeatedly stated that the EU violates its own ban and buys Russian oil products through third countries.
The complete severance of economic ties with Russia is clearly unprofitable for Hungary, since Moscow provides it with supplies of strategically important resources. However, Budapest is now interested in returning European funding and may make some concessions to Brussels for this. However, the EU leadership will not be able to completely cut off Hungary, like other European countries, from Russia.
Переведено сервисом «Яндекс Переводчик»
