‘For us, it is a matter of life or death,’ Hungarian Prime Minister Viktor Orbán said on the flight to Washington, DC, on Thursday, on his way to meet his long-time ally, US President Donald Trump, in the White House.
It will be the first official bilateral, face-to-face meeting between the two since Trump returned to the Oval Office, and the stakes are high: the Hungarian delegation hopes to establish a comprehensive partnership in several areas, including economic, energy, and investment cooperation, while seeking an exemption from US sanctions on Russian oil imports.
Probably the most significant factor underpinning Orbán’s ambitions to secure tangible results from the Washington visit is the close personal relationship between him and Trump. ‘It’s unprecedented in US history that a presidential candidate—in this case Donald Trump—has spoken about Hungary during his campaign and referred to the Hungarian prime minister multiple times,’ Szabolcs Pásztor, Director of Research at the Oeconomus Economic Research Foundation, told Hungarian Conservative. Due to Trump’s frequent mentions of Orbán, he continued, the American public today is far more familiar with Hungary and its prime minister than ever before. That gives significant weight to the meeting not just for Hungarians but for the average American as well. ‘This isn’t just one of many visits; it’s a highly significant one: a European ally—moreover, “the” European ally—is coming to Washington today,’ Pásztor highlighted.
‘The American public today is far more familiar with Hungary and its prime minister than ever before’
According to the Hungarian side’s calculations, the outstanding relations between the two leaders should translate into improved economic ties with tangible effects. Pásztor pointed out that American companies have already indicated plans to invest in Hungary since Trump took office, and investor confidence should strengthen further if the meeting bears results. ‘A major economic agreement is also taking shape,’ Pásztor noted, adding that it could bring new multinational companies and stronger cooperation between American and Hungarian firms.
Besides investments, the war in Ukraine and energy will be high on the agenda, Pásztor, who recently joined the Hungarian delegation in Washington, said. Trump announced at the end of October that the US would implement sanctions on two major Russian oil companies, Rosneft and Lukoil. Hungary imports a significant share of its oil from Moscow and, due to its geographical location, finds it difficult to reduce dependence on Russian crude. According to media reports, a comprehensive energy deal is on the table that would involve American nuclear technology and LNG import, in exchange for allowing the country to keep importing cheaper Russian oil that keeps household energy prices down and supports the economy. ‘I anticipate that the United States will become an even more reliable energy partner for Hungary and that agreements may be reached in this field as well,’ Pásztor added.
The significance of the meeting is also reflected by the size of the Hungarian delegation. Besides the prime minister, his political director Balázs Orbán, Minister of Foreign Affairs and Trade Péter Szijjártó, and the ministers of national economy, energy, defence, innovation and construction, along with CEOs of major Hungarian companies, travelled to Washington to take part in the negotiations. ‘This shows that these will not be routine discussions but rather comprehensive agreements covering several areas—economy, finance, investment, and energy policy,’ Pásztor said.
The two leaders will meet at 11.30am Washington time (5.30pm CET) on Friday.
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