Hungarian Conservative

New sanctions by the Ukrainian government have forced oil transports from the Russian oil procedure Lukoil to be stopped to Hungary and Slovakia. However, Hungary is still receiving gas shipments from Russia uninterrupted through the TurkStream pipeline.

‘In the end, the USD’s centrality to the system of global payments also increases the power of sanctions it imposes on other countries or individuals. In truth, since almost all trade is done in American dollars, even trade among other countries, they can always be subject to US sanctions because they are handled by so-called correspondent banks with accounts at the Federal Reserve. By cutting off the ability to transact in USD, Washington can make it uncomfortable for those it blacklists to do business.’

In a recent article, POLITICO Brussels criticizes Hungary for its close economic ties with China but fails to mention that one of the main sponsors of Euro 2024 in Germany is the Chinese company BYD. In fact, the number one trading partner of the host Germans in 2023 was none other than China.

Barna Pál Zsigmond went on Hungarian public media to talk about Hungary’s upcoming presidency of the Council of the European Union. He named restoring Europe’s economic competitiveness and advancing the Western Balkan nations towards EU accession as the administration’s two major agenda points for the six-month presidency.

‘In Hungary, most of society and the government view the state of democracy operating in the institutions of the EU with growing concern and mounting criticism. This mutual criticism increasingly defines the relationship between Hungary and the system of EU institutions in Brussels.’

The European Commission has introduced an unprecedented proposal for sanctions: punitive measures targeting Russian liquefied natural gas. Hungary opposes the new sanctions package for fear that it may risk destabilizing the European energy market and drive up prices.

Peter Szijjártó emphasized during the event held at the Millenáris Park that the current leadership of the European Union, the liberals, have caused significant damage to Europe with their misguided sanction policies and by reinforcing and promoting a war psychosis, affecting the daily lives of European citizens.

Iran launched an unprecedented air strike against Israel on Saturday night. Hungarian Prime Minister Viktor Orbán reacted by convening the Defence Council on Sunday. The PM reassured Hungarian families that the government is committed to protecting them should the conflict escalate.

‘The Visegrad Group has reached a tipping point in the face of growing geopolitical and security challenges. The external and internal dynamics of the regional alliance of the Czech Republic, Hungary, Poland, and Slovakia have encountered obstacles where the need for unity clashes with competing views, aims, and pressures.’

A recent opinion piece published by POLITICO discusses the ineffectiveness of Western sanctions on Russia. The article aligns closely with the stance of the Hungarian government, asserting that punitive measures will not bring about an end to the conflict due to economic and energy interdependencies between Russia and the West.

As the war in Ukraine enters its third year, the prospect of peace remains as distant as it did 24 months ago. However, with the upcoming political events in Europe and the United States, 2024 holds the potential for significant changes. With these crucial events ahead, there is hope that 2025 could finally become the year of peace in Ukraine.

According to a recent POLITICO article, EU member states should impose sanctions on Russian nuclear energy, but Hungary’s opposition makes this impossible. Meanwhile, several states in the EU are cooperating with Russian nuclear energy companies, hiding behind Hungary’s veto, and acting behind the scenes to protect their interests.

Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó was the guest speaker at the latest event of the International Speaker Series organized by the New York Young Republican Club on 7 February. After addressing the challenges Europe has been facing lately regarding the war, migration, and shrinking competitiveness, the minister answered several questions from the audience.

Left-wing MEPs led by Guy Verhofstadt want to impose sanctions on Tucker Carlson for interviewing Vladimir Putin. The crackdown on the former Fox News anchor is a perfect illustration of the double standards set by Brussels concerning freedom of expression and freedom of the press, which is often applied to Hungary as well.

Citing concerns over the delay of the ratification of Sweden’s NATO accession, approving additional aid to Ukraine, and the Sovereignty Protection Act, Senator Ben Cardin of Maryland has proposed the possibility of the United States imposing sanctions on Hungary as a punishment.

Despite climate and clean energy transition targets, the current energy crisis has forced many countries to increase coal-based power generation. The question is: can we expect a turn in coal use in the shorter or longer term, and closely related to this, is there any other reason for the rise in coal use for energy than the energy crisis itself?

As for 2024: once we have passed the most difficult and dangerous year, we can move on to the next one, the year of sovereignty protection. We who are interested in Hungary remaining a Hungarian country.

Speaking at the opening of an MVM customer service office in Nagykáta, Pest County, Zsófia Koncz emphasized that since 2013, the government has considered keeping the utility cost reduction programme in place a top priority.

Viktor Orbán and Vladimir Putin last met in person on 1 February 2022 in Moscow, before the outbreak of the war on Ukraine. This time the two leaders discussed energy matters and bilateral cooperation. During their meeting, the Hungarian PM also emphasized the need to put an end to the fighting and achieve peace.

Despite the sanctions and the war driving up energy prices, the Hungarian measures to combat inflation and price increases are undeniably working. While EU countries scramble to look for new avenues to import electricity and gas, the Hungarian plans and contracts have managed to keep energy prices at affordable levels for citizens.

It seems that even the most vocal supporters of energy sanctions do not want to give up Russian gas at all cost, which has led to some unusual but rather obvious solutions. Today, fossil fuels from Russia are being transported via proxies to pro-sanctions Western Europe. Also, despite loud promises, the vast majority of Western companies operating in Russia have not left the country at all, at least according to a Swiss study from 2022.

OTP Bank made several commitments regarding its future plans in the Russian market in an agreement concluded with the Ukrainian National Agency on Corruption Prevention, mediated by the European External Action Service. The Ukrainian authorities have removed the bank from the list of international sponsors of the war, and stated that now they expect OTP Bank ‘to promptly adhere to the agreement.’

As Japan’s example continues to illustrate, hope and one’s true objective must never be forgotten, let alone given up. For Hungary, as for Japan, national interests and the progress of the nation constitute both the foremost goal and the means to achieve it.

President Novák and President Zelenskyy engaged in a fruitful one-on-one in Kyiv, which may pave the way for more constructive bilateral relations.

For the government, the successful fight against inflation is a key issue as it aims to restore the previous trend of continuous wage growth, disrupted by the protracted war and the misguided sanctions.

The rhetoric of spiritual mobilization, of Russia’s responsibility for the fate of the world, and of the ‘burden of the Russian people’ is becoming dominant once again as it was many times before during tragic periods in Russian history. Economic sanctions and diplomatic isolation as the punishment for the annexation of Crimea and the war in Ukraine are interpreted by the Russian regime and the majority of Russians as confirmation of progressing Anomia in the West, and will strengthen the Katechonic argument.

According to the ministry’s statement issued on 4 August, in July the average prices of products in 62 product categories decreased by an average of 7.7 per cent. This reduction was a result of price decreases in 53 product categories within one month. The decrease in food prices had a 0.7 percentage point impact on reducing inflation and a two percentage point impact on reducing food inflation according to the weighting of the shopping basket used by the Central Statistical Office.

The ministry emphasised that combined cycle gas turbine power plants can be built relatively quickly, have exceptionally high efficiency, low specific carbon dioxide emissions, and their capacity can be adjusted to consumption levels.

The Budapest embassy stated that the United States government made significant efforts over the years to avoid this modification and resolve the longstanding security risk resulting from the Hungarian simplified naturalisation process. However, the Hungarian government decided not to address the concerns raised and did not take the necessary steps to fully comply with the VWP requirements.

To further intensify price competition, the government decided to raise the level of mandatory discounts from ten per cent to at least 15 per cent starting today.