Orbán agrees with the US to create a "financial shield"

This is to protect Hungary's economy and public finances, Prime Minister Viktor Orbán said after talks with US President Donald Trump.

During Friday's meeting at the White House, Orbán also won a one-year exemption from US sanctions on Russian oil and gas. At the same time, Hungary committed to buy about $600 million worth of liquefied natural gas from the US.

Orbán explained that if Hungary or its financial system faced external attacks, the United States promised to protect the country's financial stability.

Although the prime minister did not specify the details of the agreement, he stressed that "Hungary will no longer have financing problems." Orban, a longtime Trump ally and frequent critic of the EU, faces a stagnant economy and strained relations with Brussels ahead of the upcoming election, according to Reuters.

But the forint has strengthened the most among central European currencies this year, supported by the highest base interest rate in the EU.

(reuters, est)