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Orban: US Intervention in Venezuela Good for Energy Markets

Published January 5, 2026, 14:13
Orban: US Intervention in Venezuela Good for Energy Markets

Hungarian Prime Minister Viktor Orban stated that the US move to oust Venezuelan leader Nicolas Maduro could positively impact global energy markets, as the US and Venezuela would control a significant portion of global oil reserves (40-50%). This statement comes after the US operation to arrest Maduro and transfer him to New York to face drug-related charges. Orban, an ally of Donald Trump, pointed out that this change could lead to a more favorable situation in the global energy market for Hungary. Hungary has faced criticism for continuing to import Russian oil and gas, despite pressure from the EU and NATO. However, the country is trying to diversify its energy sources, having signed an agreement with US Chevron to supply liquefied natural gas. Orban believes that increasing US and Venezuelan control over oil reserves will allow influencing the price of energy in the global market. According to him, this could benefit Hungary, which faces challenges in its energy security. The US operation in Venezuela is the largest intervention in Latin America since the invasion of Panama in 1989, and signals Trump's desire to gain access to the country's oil wealth.