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    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    Nigeria to concession Enugu, Port Harcourt and three other airports

    Federal Government approves 30-year concession for Enugu Airport

    Only 23% of Nigerians trust INEC- Report says

    Nationwide Voter registration begins August 18 – INEC

    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

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    • Africa
    • World
  • Economy
    • All
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    • Economic Data
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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    Shoprite to sell stores in Ghana and Malawi

    Shoprite to sell stores in Ghana and Malawi

    President Tinubu assents to Nigerian Insurance Industry reform bill 2025

    President Tinubu assents to Nigerian Insurance Industry reform bill 2025

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    Nigeria’s C&I Leasing Plc to invest in Leasafric Logistics Ghana

    Nigeria’s C&I Leasing Plc to invest in Leasafric Logistics Ghana

    Stanbic IBTC Holdings Plc announces N1.50 interim dividend for half-year 2023

    Consolidated Hallmark Holdings Plc declares 10 kobo interim dividend for H1 2025

    Beta Glass Plc reports 334% year-on-year growth in profit

    Beta Glass Plc reports 334% year-on-year growth in profit

    Caverton Shareholders approve 10 kobo per share dividend and others at AGM

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    VFD Group Plc Employees and others sell millions of VFD Group shares

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    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

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    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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Hungarian PM Viktor Orban: “We will not turn off cheap Russian gas and buy expensive American energy”

Friday, 1 April 2022, 2:58 pm
in News, World
0
Hungarian PM Viktor Orban: “We will not turn off cheap Russian gas and buy expensive American energy”
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Hungarian Prime Minister Viktor Orban has said that some countries will not be able to substitute Russian gas with the more expensive American alternative.

The Hungarian PM argued that a landlocked country such as Hungary, won’t be able to receive liquified gas from the US, thus leaving Russian gas as their only option for gas.

Orban who has come under fire several times from Ukraine and its supporters for refusing to take a definitive stance against Russia, made these statements while speaking to local radio station Kossuth on Friday.

Also read; The U.S to release 1 million barrels of oil per day from reserves

Orban reiterated that Hungary condemns Russia’s attack against Ukraine, and that he understands the efforts of Ukrainian President Volodymyr Zelensky, as his country is in trouble and he is looking out for Ukrainian interests, but stated that Hungary “can’t help the Ukrainian people by destroying itself.”

This war is not our war, we can’t win here, but we can lose everything. The question is will we have an economy left by the end of it or not.

Earlier in the month, Orban said that Hungary is intent on looking out for its own interests first and will maintain a “Hungarian point of view,” but emphasized that “it must be made clear to the Russians that it is not worth pursuing this war,” warning at the same time that Europe should avoid hurting itself “more than the Russians.”

In one of his statements on Friday to the local radio station, he said it’s impossible for Hungary to “turn off cheap Russian gas and buy expensive American energy instead,” adding that it is not viable for Europe to count on the transportation of sufficient volumes of liquified gas from the US across the ocean, and that there is no alternative to Russian supplies in the near future, for Hungary in particular.

Prior to the Russian invasion of Ukraine in February during a meeting with President Putin, Hungary requested an increase in natural gas imports from Russia under a bilateral long-term contract.

Orban said then, on 1 February, that he requested an expansion of Hungary’s 15-year gas contract with Russian energy company Gazprom to ensure larger-volume deliveries amid rising energy prices in Europe.

Hungary, a member of the European Union and NATO, signed the 15-year natural gas supply deal with Gazprom in September, under which the Russian state-run gas giant pledged to ship 4.5 billion cubic meters of gas to Hungary annually through lines that bypass Ukraine.

Unlike other EU countries, Budapest has so far refused to either send weapons to Ukraine, or allow other countries to move shipments through its territory.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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