Gas pipeline operator TurkStream moves its headquarters from the Netherlands to Hungaryto avoid possible European and American sanctions related to Russian energy supplies. This was stated by the Minister of Foreign Affairs of Hungary Peter Szijjarto.
Company South Stream Transport BVsubsidiary structure Gazpromfaced legal challenges in the Netherlands related to with Russia’s actions on the territory of Ukraine. The Russian side did not respond to a request for comment.
According to Szijjartothe decision to transfer will ensure the uninterrupted operation of TurkStream during a period of increasing sanctions pressure:
“After moving the headquarters from the Netherlands to Hungary, the gas pipeline TurkStream will be able to function without interruption, despite legal and economic attacks,” – he said during a visit to Moscow.
Gas pipeline TurkStreamlaunched in 2020, is a key route for Russian gas supplies to Southern Europeallowing Moscow to bypass the Ukrainian transit corridor. Its annual capacity is 31.5 billion cubic meters.
Szijjártó stressed that the new agreement guarantees the protection of supplies from American sanctions. Against this backdrop, Washington recently granted Hungary a one-year reprieve on sanctions against Russian oil and gas imports, following a personal request from the Prime Minister Viktor Orban at a meeting with the president Donald Trump.
Besides, Orban last month visited Moscow, where he met with the President Vladimir Putin. After the negotiations, he emphasized that the main goal of the visit was to ensure Hungary’s energy security for the current winter and next year.
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