Hungary plans talks with allies to combat higher oil prices after new US sanctions on Russia
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 12 2025
0mins
Source: Reuters
Hungary's Response to Sanctions: Hungary plans to engage in discussions with regional allies to address the economic challenges posed by new U.S. sanctions on Russia's oil and gas sector, which have led to a spike in oil prices.
Economic Impact: The sanctions are expected to increase fuel prices and inflation in Hungary, as the country relies heavily on Russian crude oil imports, with the forint trading at near two-year lows against the euro.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
