Hungary and Serbia have agreed to expedite the construction of an oil pipeline connecting the two countries in response to the impact of U.S. sanctions on energy security in Europe. This announcement was made by Hungary’s Minister of Foreign Affairs and Economic Relations, Peter Szijarto, following a phone call with Serbia’s Minister of Mining and Energy, Dubravka Đedović-Handanović.
Szijarto revealed that during the conversation with his Serbian counterpart, they discussed the need to accelerate joint investments aimed at strengthening energy security. This includes the fast-tracking of the construction of a new interconnector to link the electricity grids of the two nations, as well as the establishment of the first shared oil pipeline between Hungary and Serbia.
Szijarto further emphasized that recent developments have highlighted the difficulties caused by sanctions and restrictions imposed by certain global political players. These decisions, he noted, often fail to consider the interests of their allies. The Hungarian foreign minister was specifically referring to U.S. sanctions against Russian oil and gas companies, including Serbia’s NIS, which have had significant repercussions on energy supply and security in the region.
Both Hungary and Serbia are now focused on mitigating these challenges by accelerating energy infrastructure projects to ensure the continued stability of their energy systems and to reduce reliance on external sources.
