Hungary aims to expand nuclear collaboration with the United States through the introduction of small modular reactor (SMR) technologies, Index.hu reported ahead of Prime Minister Viktor Orban’s meeting with US President Donald Trump.

The Hungarian leader will be hosted at the White House on November 7, accompanied by a delegation of business leaders to discuss bilateral economic cooperation, with energy security high on the agenda. Budapest is also seeking to attract greater US investment to Hungary.

Government sources speaking to Index.hu say the sides are preparing a comprehensive energy deal that could cover three main sectors: nuclear power, natural gas (particularly LNG), and oil. While US oil exports to Central Europe remain limited by infrastructure, Washington sees nuclear and LNG cooperation as key areas for expanding its regional footprint.

According to sources, Hungary’s proposal to Washington is based on a pragmatic trade-off: the United States would acknowledge Hungary’s short-term reliance on Russian oil and gas, while both sides would expand cooperation in nuclear and LNG sectors to strengthen long-term energy diversification and security.

Officials stress that the country’s existing energy contracts with Russia, particularly for natural gas, remain economically advantageous and stable, but the government continues to pursue diversification of supply sources and routes.

Nuclear cooperation is emerging as the strongest potential link between Budapest and Washington. The United States, seeking to reassert global leadership in civilian nuclear technology, is promoting its SMR systems, where American developments currently outpace Russian and Asian competitors. Hungary has already begun talks with US partners on nuclear fuel supply, and GE Vernova’s SMR programme is under preliminary evaluation for potential implementation in Hungary.

In addition to nuclear cooperation, Hungary remains open to importing LNG from the United States. State-owned MVM CEEnergy has recently signed new long-term gas supply agreements with Shell and ENGIE, while maintaining its existing contracts with Russian suppliers.

Orban is hoping to secure a temporary waiver from US sanctions on Russian oil, leveraging his personal relationship with Trump. Last week, the US President confirmed that Budapest had requested an exemption but said it had not been granted.

Analysts expect some form of compromise, possibly granting Hungary an extended transition period or broader exemptions rather than an immediate and full reduction of Russian energy imports. Without such relief, energy prices could surge, potentially jeopardising Fidesz’s chances in the April election.

Hungary is already under EU pressure to phase out Russian fossil fuels by 2027, leaving the question of how much additional time Budapest can secure before fully cutting Russian energy ties.

The US is expected to stress its strategic objectives, ending the Russia–Ukraine war through sanctions and expanding export markets for American energy technologies. The Orban–Trump talks could therefore mark the beginning of a new US–Hungarian energy framework, balancing immediate dependencies with long-term strategic goals.

A government official told Index.hu: “Hungary’s geography cannot change overnight, but our partnerships can evolve. If Washington understands our constraints, we can open a new chapter of cooperation.”

The outcome of the November 7 meeting could be crucial for MOL Group. Failure to secure a temporary exemption from sanctions on Russian oil could result in a sharp rise in domestic fuel prices, Erste Bank analyst Tamas Pletser told Economx.hu. Hungary’s dependence on Russian crude makes it particularly vulnerable, as its landlocked position limits supply options, currently reliant on the Druzhba (Friendship) and Adria pipelines.

Pletser noted that while alternative sources such as Azeri or Kazakh oil could eventually reach the region via Odessa, Ukraine’s damaged infrastructure makes this uncertain. In the short term, switching fully to the Adria pipeline may be Hungary’s only realistic option, but this would increase MOL’s dependence on the Croatian operator Janaf, which already charges around €16 per tonne in transit fees.

The analyst estimated that even with ongoing diversification, MOL will likely remain partially reliant on Russian crude until late 2026, when its refineries are expected to be technically ready to process alternative blends. Without at least a one-year grace period, MOL could face reduced refining capacity due to technical and logistical constraints, compounded by the recent fire at the Danube Refinery, which cut capacity by at least 40%, he added.​