Hungary Risks Losing Over $1 Billion If It Cuts Gas Supplies to Ukraine, Kyiv Warns.

Ukraine’s Foreign Ministry Spokesperson Responds

According to UATV: Hungarian Prime Minister Viktor Orbán has threatened to halt gas deliveries to Ukraine unless Kyiv restarts the Druzhba oil pipeline. In response, Ukraine’s Foreign Ministry spokesperson Heorhii Tykhyi stated on March 25, 2023, that such a move could cost Hungary over $1 billion. Gas imports from Hungary have not been halted yet, but the situation is raising concerns.

Tykhyi emphasized the potential economic fallout for Budapest, warning that cutting off supplies would primarily harm Hungary’s own economy:

'If Prime Minister Orbán ultimately decides to stop it, we believe the only consequence will be that Hungary’s economy and its people lose more than a billion dollars.' Heorhii Tykhyi

Energy Relations in Focus

Ukraine maintains that any decision to suspend gas deliveries would negatively affect not only Ukraine but also Hungary itself. The situation remains under control, and gas imports are continuing for now, though the future of bilateral relations remains uncertain.

This standoff highlights the fragility of energy ties between Ukraine and Hungary, which have been strained by broader geopolitical tensions. With the war in Ukraine and ongoing energy security challenges, both nations face pressure to engage in dialogue to avoid economic losses and further escalation. Energy interdependence can either foster cooperation or become a flashpoint between neighboring states.