In Hungary, Cheap Russian Oil Fuels Right-Wing Culture Wars

Prime Minister Viktor Orban of Hungary has fiercely resisted a proposed European embargo of Russian oil, saying it would devastate his country’s economy. Other potential casualties of such a ban would be things close to his heart: his populist campaign promises, and a financial gravy train for culture warriors in Europe and in the United States.

Both have been fueled by Hungary’s profits from Russian crude. Gorged with cash thanks to cheap supplies of Russian oil and gas, the Hungarian energy conglomerate MOL — one of the Central European nation’s biggest and most profitable companies — last month announced it would pay dividends of $652 million to its shareholders.

A steady supply of Russian energy has become a central part of Mr. Orban’s economic and political model, said Andras Biro-Nagy, founder and director of Policy Solutions, a Budapest research group. “Russian oil and gas are absolutely vital to his whole scheme.” Read more

@nytimes