According to Prime Minister Orbán, the negotiations resulted in full alignment between the two governments, with no identified strategic conflict between Hungarian and American interests. “We did not find a single essential issue on which our countries disagreed,” he noted, describing the talks as a dialogue between allies. The exemption covers all energy flows on both pipelines, regardless of supplier origin — including Russian companies — thus guaranteeing Hungary’s uninterrupted and affordable energy supply.
The prime minister detailed the serious implications of the sanctions had they gone into effect. Without the exemption, Hungarian households would have faced energy bills two-and-a-half to three times higher starting in December. Businesses would have suffered severely, many facing potential closures, and unemployment would have surged. “We were neck-deep in trouble,” he said. “This exemption pulled us out of a noose.”
Prime Minister Orbán credited Foreign Minister Szijjártó with laying the groundwork for the breakthrough, emphasizing the months of preparatory work that convinced the U.S. administration of Hungary’s unique position. The final decision, made personally by President Trump, represents a significant divergence from the Biden administration’s blanket sanctions approach, which Hungary had not been able to escape until now.
Beyond the exemption, several new areas of cooperation were also announced. These include nuclear energy, where Hungary and the United States agreed to involve American company Westinghouse in supplying nuclear fuel and deploying small modular reactor technology. Legal modifications to facilitate this technological integration will be introduced in the Hungarian Parliament next week.
Additionally, the Trump administration lifted all remaining U.S. sanctions previously affecting the Paks II nuclear project. Unlike the former temporary waiver, this change eliminates the restrictions entirely, clearing the way for full project implementation without U.S. opposition.
Financial cooperation is also set to deepen, with both sides agreeing to form new structures to safeguard Hungary’s fiscal stability. Prime Minister Orbán noted that 1,400 American-owned companies already operate in Hungary, employing around 100,000 people, and further investment is now expected.
Looking forward, the prime minister emphasized that the focus must move beyond energy and into advanced technological sectors. “Energy is not the future,” he said, pointing instead to fields such as artificial intelligence, telecommunications, and space industry as Hungary’s next strategic frontiers. He confirmed that discussions had already taken place with leading U.S. companies on cooperation in defense and space technology, areas he called essential for the long-term transformation of Hungary’s economy.