US and Hungary strengthen energy cooperation

Hungary is increasing purchases of American crude oil and plans to collaborate with the US in the field of nuclear energy, the White House said in a press release following the visit of US Vice President J.D. Vance to Budapest.

According to Report, Hungarian company MOL purchased 510,000 barrels of crude oil from American companies for a total of around $500 million. Washington and Budapest also agreed to cooperate on small modular reactors, including a project for Hungary to build up to 10 small reactors with a potential value of up to $20 billion.