Cyprus Times

Orban Says US Intervention in Venezuela Beneficial for Energy Markets

Published January 5, 2026, 15:09
Orban Says US Intervention in Venezuela Beneficial for Energy Markets

The Prime Minister of Hungary, Viktor Orban, stated that the US intervention in Venezuela will have a positive impact on global energy markets. He argued that the US and Venezuela together will control 40-50% of the world's oil reserves, which could significantly affect energy prices. This statement comes after the US special forces raid on Caracas and the arrest of Nicolas Maduro, who was transferred to New York to face charges. Orban, an ally of Donald Trump, mentioned that Hungary could benefit from a more favorable global energy situation as a result of Venezuela's control. Hungary has been criticized for continuing to import Russian oil and natural gas, but is also taking steps to diversify its supplies. Recently, the Hungarian company MVM signed a five-year agreement with the US Chevron to supply 2 billion cubic meters of liquefied natural gas. Orban's statement highlights Hungary's expectation for a more stable and economically advantageous energy market.