Hungary is asking the US to exempt it from potential fines for continuing purchases of Russian oil, as Budapest seeks to maintain energy ties with Moscow as it transitions away from Russian dependence.

Hungary is asking the US to exempt it from potential fines for continuing purchases of Russian oil, as Budapest seeks to maintain energy ties with Moscow as it transitions away from Russian dependence.

The request comes after Congress gave Trump new powers to impose tariffs on buyers of Russian oil products.

Prime Minister Magyar's government has pledged to reduce dependence on Russian energy and diversify imports, but Hungary remains largely dependent on Moscow.

"We asked for support during this transition period to exempt American sanctions targeting Russian energy purchases," Marton Hajdo, chairman of the parliament's foreign policy committee, said after meetings with US lawmakers.

Source: Bloomberg