The United States recently took a big step by imposing heavy sanctions on Russia’s Gazprombank, which is a major player in handling gas payments from Russia. These new sanctions are part of a larger effort by the US to pressure Russia, but Hungary’s Foreign Minister, Peter Szijjarto, says these actions could put the energy security of Central Europe at risk.
A Serious Blow to Energy Deals
Earlier this week, the US Treasury Department announced sanctions against over 50 Russian financial institutions, including Gazprombank. This move blocks these institutions from using the SWIFT system, which is the global network used to send money between banks. Gazprombank, being the main bank for energy-related transactions with Russia, will now struggle to do business in US dollars, which is a big deal for countries relying on Russian gas.
Hungary’s Strong Reaction
Peter Szijjarto, Hungary’s foreign minister, was quick to speak out. He posted a message on Facebook, saying that thi...
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