Hungary bans oil and fuel exports, puts pressure on Kyiv

The Hungarian government has banned exports of crude oil, diesel and 95-octane petrol, while also releasing 45 days’ worth of strategic fuel reserves.

According to Economy Minister Márton Nagy, the measure is linked to rising oil prices. Budapest is also introducing a price cap on fuels. The measure will apply to vehicles registered in Hungary and is intended to protect households and businesses from sharp price increases.

The move will also have a significant impact on supplies to Ukraine. Hungary Today writes that up to 49 per cent of Ukraine’s electricity imports come from Hungary.

Ukraine is becoming increasingly dependent on foreign energy. In February 2026, the country imported a record 1.26 million megawatt hours of electricity, with imports rising fivefold year on year.

Since 27 January, Ukraine has been blocking the transport of Russian oil through the Druzhba pipeline to Hungary and Slovakia. Kyiv says the pipeline was damaged in a Russian attack. Both countries maintain that, according to their data, the main artery of the pipeline is undamaged and that Kyiv has blocked supplies for political reasons.

(reuters, pir)