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Hungary secures financial shield deal with Washington, says Orban
Hungarian Prime Minister Viktor Orban announced that his government has reached a “financial shield” agreementwith the United States, aimed at safeguarding Hungary’s economy and financial stability from potential external shocks.
The announcement followed Orban’s meeting with U.S. President Donald Trump at the White House on Friday, where the two leaders discussed energy cooperation and financial security. According to Orban, the deal ensures that Washington would step in to defend Hungary’s financial system in the event of any external threat.
The Hungarian leader, a long-time ally of Trump, also secured a one-year exemption from U.S. sanctions on Russian oil and gas, while pledging to purchase American liquefied natural gas (LNG) worth approximately $600 million.
In remarks shared with Hungarian media, Orban said the agreement guaranteed Hungary would face no financing difficulties, dismissing concerns about the stability of the forint or the national budget.
Hungary’s economy has remained stagnant for the past three years amid inflationary pressure following Russia’s invasion of Ukraine. Nevertheless, the forint has strengthened in recent months, supported by one of the highest interest rates in the European Union.