Hungarian Prime Minister Viktor Orbán traveled to Subotica on Thursday with a clear message for Serbian President Aleksandar Vučić: Hungary will not let Serbia face an energy meltdown alone. With U.S. sanctions against Russian oil companies threatening to choke Serbia’s fuel supply and potentially shutter the country’s largest refinery, Orbán is positioning himself as Belgrade’s most reliable ally.
“Serbia Is in Trouble – and Hungary Will Help,” Orbán Warns
In a Facebook statement posted ahead of the meeting, Orbán issued a stark warning: Serbia could soon face fuel shortages, supply disruptions, and even the shutdown of its main oil refinery — a consequence of sanctions targeting Russian-owned energy firms.
“What we managed to avoid in Hungary could happen in Serbia,” Orbán said, stressing that the sanctions regime is hitting Belgrade harder than anticipated. He vowed Hungary would do “everything in its power” to ensure Serbia’s access to oil.
The two leaders also honored the late István Pásztor, former head of the Alliance of Vojvodina Hungarians, before turning to urgent energy talks.
Strategic Alliance: MOL Eyes Entry into Serbian Oil Sector
According to Euronews, Orbán and Vučić are discussing a possible stake for Hungarian energy giant MOL in Serbia’s oil company NIS — currently dominated by Gazprom Neft, which holds 45% of shares. Another 29% belong to Serbia and 11% to a Russian investment group formerly owned by Gazprom.
Such a move would mark a significant shift in Serbia’s energy structure and could reduce Belgrade’s dependence on Russian-controlled assets.
“This is a big deal — a strategic alliance,” Orbán said, calling Hungary and Serbia “mutual pillars of stability” in a turbulent Europe.
Szijjártó: MOL Will Boost Oil Deliveries to Serbia by 250%
Hungarian Foreign Minister Péter Szijjártó reinforced the message during talks in Belgrade, announcing that MOL will increase oil and fuel shipments to Serbia 2.5 times starting in December. He assured Serbian officials that Budapest would back them “in every way possible.”
His remarks come as Serbia braces for possible U.S. sanctions targeting Russian oil operators — a move President Vučić warns could have severe economic consequences, including price hikes and shockwaves across Serbia’s financial system.
Vučić Sounds the Alarm: “Critical Days Are Coming”
At an emergency press conference earlier this week, Vučić cautioned that upcoming sanctions may trigger fuel price surges and “critical days” for the Serbian energy market. Though aimed at Russia, he warned the measures could “unintentionally destabilize Serbia.”
With tensions rising and winter approaching, Serbia’s reliance on regional partners — particularly Hungary — is more evident than ever.