Sovereignty, Economic Resilience, and the Future of Europe — Key Takeaways from the 2024 Tranzit Festival

One of Hungary’s largest political festivals, Tranzit, took place again in Tihany over the weekend. Now in its seventh year, the event featured speeches by prominent government politicians such as Péter Szijjártó, Balázs Orbán, and Antal Rogán. While the festival primarily focused on the Hungarian economy, it also addressed crucial issues such as sovereignty, migration, and foreign policy.

Hungary Alerted Israel to Iran’s Intention to Attack

The international community has been watching events in the Middle East with bated breath for days, as Iran could attack Israel at any moment. Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó reportedly informed his Israeli counterpart of Tehran’s intention to attack on Monday evening.

Bulgaria Offers Help for Hungary Amid Ukraine Oil Transit Dispute

Bulgaria has offered to help maintain Hungary’s energy security if Ukraine does not resume Russian Lukoil oil shipments to Hungary in the near future. Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó called Sofia’s offer a sincere gesture of friendship.

Hungary Blocks European Peace Facility Payments Until Ukraine Resumes Oil Transit

The Hungarian government has taken a decisive step following Kyiv’s decision to halt Lukoil’s oil shipments to Hungary and Slovakia via Ukraine. According to Hungarian Minister for Foreign Affairs and Trade Péter Szijjártó, Budapest will block payments from the European Peace Facility, amounting to approximately €6.5 billion, until Kyiv restores uninterrupted oil transit.

Volodymyr Zelenskyy welcomes Viktor Orbán in Kyiv on 2 July 2024.

Hungarian Aspirations to Mediate in the War and the Changing Relationship between Hungary and Ukraine

In December last year a new law created a distinct category for ‘EU minorities’ in Ukraine (such as the Hungarian and Romanian ethnic minorities) that now have access to more privileges than for instance the Russian minority. Later, as a sign of goodwill to better relations, Foreign Minister Péter Szijjártó visited Ukraine. Now, with the meeting between Orbán and Zelenskyy the two country’s relationship is officially warming up. If in the long-term Budapest does manage to considerably contribute to peace between Russia and Ukraine, as it clearly intends to, it might have a long-lasting positive impact on bilateral relations.

Budapest en Route to Transformation into a Regional Hub

On 21 June a joint press conference was held by UAE Minister of Economy Abdulla bin Touq Al Marri and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó. During the conference, an agreement to deepen bilateral relations through agricultural cooperation was announced. The ministers also highlighted the significance of the New Millennium Centre construction project in Budapest, which is backed by a substantial investment of 5 billion EUR from the UAE.

Israeli Foreign Minister’s First Visit to Hungary

Minister of Foreign Affairs of the State of Israel Israel Katz visited Hungary recently for the first time since he took up office. He met with President of Hungary Tamás Sulyok, Minister of Foreign Affairs and Trade Péter Szijjártó, and the leaders of the Hungarian Jewish communities. The main aim of the visit was to determine, with Hungary soon taking over the presidency of the EU, how Budapest and the Union would take action against anti-Israel efforts in the next six months.