Hungary has reached an agreement with the United States to establish a “financial shield” aimed at safeguarding its economy and public finances, Prime Minister Viktor Orban announced following talks with U.S. President Donald Trump.
Orban, a long-time ally of Trump, met with him at the White House on Friday to seek relief from U.S. sanctions on Russian oil and gas, winning a one-year exemption. According to a White House official, Hungary also agreed to purchase U.S. liquefied natural gas under contracts worth about $600 million.
Speaking to reporters on his return flight, in a video published by news outlet index.hu on Sunday, Orban said the deal ensures U.S. support in the event of financial threats. “If there are any external attacks against Hungary or its financial system, the Americans pledged to protect Hungary’s financial stability,” he said.
In office since 2010, Orban has increasingly clashed with the European Union, which has frozen billions of euros in funds over concerns about his government’s rule-of-law record. Facing what analysts predict could be a tightly contested election next year, Orban did not disclose details of the agreement but said it would prevent any financing difficulties.
“That Hungary or its currency could be attacked, or that our budget or economy could be pressured from the financing side—this should now be forgotten,” he said.
Hungary’s economy has been stagnant for the past three years, following a spike in inflation triggered by Russia’s 2022 invasion of Ukraine, which strained public finances. However, the forint—long under pressure since Orban took office—has been among the strongest-performing Central European currencies this year, supported by the EU’s highest benchmark interest rate.
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