Orban

Trump promises to defend Hungary’s finances amid Orban-EU tensions and to sign $600m gas deal, says Hungarian leader.

Hungary has struck a deal for what Prime Minister Viktor Orban called a “financial shield” to safeguard its economy from potential attacks following talks with US President Donald Trump.

Orban, a longtime ally of Trump and one of Europe’s most outspoken nationalist leaders, met the US president at the White House on Friday to seek relief from sanctions on Russian oil and gas. Following the meeting, he announced that Hungary had secured a one-year exemption from those measures.

“I have also made an agreement with the US president on a financial shield,” Orban said in a video posted by the Hungarian outlet index.hu on Sunday. “Should there be any external attacks against Hungary or its financial system, the Americans gave their word that in such a case, they would defend Hungary’s financial stability.”

A White House official said the deal also included contracts worth roughly $600m for Hungary to buy US liquefied natural gas. Orban gave no details of how the “shield” would work, but claimed it would ensure Hungary would face “no financing problems”.

“That Hungary or its currency could be attacked, or that the Hungarian budget could be put in a difficult situation, or that the Hungarian economy could be suffocated from the financing side, this should be forgotten,” he said.

The move comes as Orban faces economic stagnation and strained relations with the European Union, which has frozen billions of euros in funding over what Brussels calls Hungary’s democratic backsliding. Critics accuse Orban of using his ties with Washington to sidestep EU pressure and secure new financial lifelines.

Orban said on Friday that Hungary also received an exemption from US sanctions on Russian energy after a meeting with Trump.

Hungary’s economy has struggled since Russia’s full-scale invasion of Ukraine in 2022, but its currency, the forint, has shown some recovery this year, supported by high interest rates.

Trump, meanwhile, has extended his support to another far-right leader, Argentina’s Javier Milei, pledging to strengthen the country’s collapsing economy through a $20bn currency swap deal with Argentina’s central bank. Trump said he would also buy Argentinian pesos to “help a great philosophy take over a great country”.

Milei, who has made more than a dozen trips to the US since taking office in December 2023, including to attend Trump’s second inauguration, is battling inflation, debt, and dwindling reserves. Argentinian bond prices plunged in late September as the central bank scrambled to stabilise the peso.

Nov. 7 (UPI) — Hungarian Prime Minister Viktor Orbán visited the White House Friday for a summit with President Donald Trump and lavished praise on the president while disparaging former President Joe Biden.

“The reason why we are here, to open a new chapter between the bilateral relation between the United States and Hungary basically because during the Democrat administration everything was rigged,” Orbán said, according to The Hill.

“Everything was basically broke, ruined, cancelled. A lot of harm done by the previous administration,” he said. “You’ve improved the bilateral relationship. You repaired what was done badly by the previous administration, so now we are in quite a good position to open up a new chapter. Let’s say a golden age between the United States and Hungary.”

Orbán wants Trump to come to Budapest and to meet with Russia President Vladimir Putin about the Ukraine war. Trump has already canceled one meeting, saying he didn’t want to “have a waste of time.”

Orbán also came to the White House to ask Trump to give Hungary an exception to the sanctions on buying Russian oil. The president said he might exempt Hungary from those sanctions.

He also called on European leaders to be more respectful of Orbán, who has faced battles with them over migration, democracy and rule of law.

“I think they should respect Hungary and respect this leader very, very strongly because he’s been right on immigration,” Trump said.

Hungary claims it must buy Russian oil because it has no other viable source.

“We’re looking at it because it’s very difficult for him to get the oil and gas from other areas,” Trump said. “It’s a big country, but they don’t have sea. They don’t have the ports. And so they have a difficult problem.”

He also accused other European countries of buying Russian oil and gas. They “don’t have those problems, and they buy a lot of oil and gas from Russia. And, as they know, I’m very disturbed by that.”

Trump and Orbán are both conservative leaders who share similar values, including a dislike of immigration.

“Look what’s happened to Europe with the immigration. They have people flooding Europe,” Trump said. “You go to some of the countries, they’re unrecognizable now because of what they’ve done. And Hungary is very recognizable.”

Orbán defended his migration policies, blaming Europe.

“This is the absurd world we are living in now in Europe,” Orbán said. “We are the only government in Europe which considers itself as a Christian government. All the other governments in Europe are basically liberal leftist governments.”

In September, Trump lifted travel restrictions against Hungarians, readmitting them to the Visa Waiver program. Biden had added restrictions against Hungarians when he learned that Budapest was granting Hungarian citizenship without adequate security measures.

The Guardian reported that at Friday’s meeting, Orbán was expected to try to set up another meeting between the two leaders not only to broker peace in Ukraine, but to also boost his own standing as a statesman.

Citing insiders, the news outlet said the far-right leader is facing stiff opposition ahead of April’s parliamentary elections, and a visit from Trump would potentially boost support among conservatives.

“Orbán wants Trump to come to Budapest before the elections,” an unnamed source working in the Hungarian government told The Guardian. “This is a top priority. They will discuss the Russian gas issue, but the thing Orbán cares about the most is the elections.”

In a post on X on Thursday, Orbán said Trump’s first 10 months back in office have repaired the relationship between the United States and Hungary. He said the Biden administration damaged that relationship through “politically motivated sanctions.”

“Our goal is to establish a strategic partnership that includes energy cooperation, investments, defense collaboration, and discussions on the post-war landscape following the Russia-Ukraine conflict,” Orbán wrote.

“We are working on an agreement based on mutual benefits — one that serves the interests of every Hungarian citizen.”

Trump told reporters last week that Orbán wants an exemption from the oil and gas sanctions.

“We haven’t granted one, but he has asked,” Trump said aboard Air Force One. “He’s a friend of mine. He’s asked for an exemption.”

WASHINGTON — President Trump said on Friday he’s considering granting Hungary an exemption from U.S. sanctions on Russian energy as he sat down with Hungarian Prime Minister Viktor Orbán at the White House. “We’re looking at it because its very difficult for him to get the oil and gas from other areas,” Trump said.

Orbán said it’s a “vital” issue for his landlocked country, and said he planned to discuss with Trump the “consequences for the Hungarian people” if the sanctions took effect.

In comments on Friday, Orbán said he would present Trump with several “suggestions” for implementing an exemption.

“I’m not asking for some kind of gift from the Americans or some kind of unusual thing. I am simply asking for the realization that the sanctions recently imposed on Russian energy puts certain countries like Hungary, which do not have access to the sea, in an impossible situation,” Orbán said on state radio. “I’m going to ask the president to acknowledge that.”

A large delegation of cabinet members, business leaders and numerous right-wing political influencers with close connections to Hungary’s government accompanied Orbán to Washington. The delegation rented a 220-passenger commercial jet from Hungarian carrier Wizz Air for the journey.

Prior to Orbán’s arrival on Thursday, a bipartisan group of U.S. senators introduced a resolution calling on Hungary to end its dependence on Russian energy.

The resolution was co-signed by 10 senators including Republicans Mitch McConnell of Kentucky, Thom Tillis of North Carolina and Chuck Grassley of Iowa, as well as Democrats Jeanne Shaheen of New Hampshire and Chris Coons of Delaware. It “expresses concern that Hungary has shown no sign of reducing its dependence on Russian fossil fuels,” and urges Budapest to adhere to a European Union plan to cease all Russian energy imports into the bloc by the end of 2027.

“Europe has made extraordinary progress cutting its energy ties with Moscow, but Hungary’s actions continue to undermine collective security and embolden the Kremlin,” Shaheen wrote in a statement. The resolution, she continued, “sends a clear message that when it comes to buying Russian energy, all allies should be held to the same standard, and that includes Hungary.”

On Friday, Hungarian Foreign Minister Péter Szijjártó said in Washington that he will sign a bilateral nuclear energy cooperation agreement with U.S. Secretary of State Marco Rubio, according to Hungarian state news agency MTI.

The deal will involve Hungary’s first-ever purchases of American nuclear fuel, which it currently buys from Russia, and introduce U.S. technology for the on-site storage of spent fuel at Hungary’s Paks nuclear plant. The agreement will also include cooperation on small modular reactors.

After arriving in Washington, Orbán and some of his top officials met with Eduardo Bolsonaro, the son of former Brazilian President Jair Bolsonaro, who in September was sentenced to 27 years in prison for plotting a coup after an election loss. Orbán posted on social media: “We stand firmly with the Bolsonaros in these challenging times — friends and allies who never give up. Keep fighting: political witch-hunts have no place in democracy, truth and justice must prevail!”

Megerian and Spike write for the Associated Press. Spike reported from Budapest