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US Treasury's Bessent meets with Hungarian foreign minister on shared priorities

Published by Global Banking & Finance Review

Posted on February 20, 2025

2 min read

· Last updated: January 26, 2026

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US Treasury Secretary Scott Bessent meets Hungarian Foreign Minister Peter Szijjarto - Global Banking & Finance Review
In this image, US Treasury Secretary Scott Bessent engages with Hungarian Foreign Minister Peter Szijjarto to discuss shared economic and national security priorities between the US and Hungary.
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WASHINGTON (Reuters) - U.S. Treasury Secretary Scott Bessent met on Wednesday with Hungary's Foreign Minister Peter Szijjarto to discuss shared economic and national security priorities, the Treasury

US Treasury Secretary Bessent Discusses Economic Ties with Hungary

WASHINGTON (Reuters) - U.S. Treasury Secretary Scott Bessent met on Wednesday with Hungary's Foreign Minister Peter Szijjarto to discuss shared economic and national security priorities, the Treasury said in a statement.

"Secretary Bessent emphasized the importance of the U.S.-Hungary relationship and continued coordination between the two countries at this important time for Europe," the Treasury said in a readout of the meeting, which it described as introductory.

The statement did not include any references to Russia's war in Ukraine nor President Donald Trump's desire to end it quickly by kicking off talks with Moscow, a move that has alarmed European leaders.

Hungarian Prime Minister Viktor Orban's nationalist government has long been at loggerheads with Hungary's Western allies on a range of issues, including its relatively good economic ties with Russia, media freedoms and human rights issues.

Former president Joe Biden's administration in December granted Hungary an exemption from sanctions on Russia's Gazprombank, a move that allows Hungary to continue to make payments for Russian gas via the financial institution.

Earlier on Wednesday, sources told Reuters that Bessent would skip a G20 finance ministers and central bank governors meeting in South Africa next week, a gathering where he would be able to meet with multiple counterparts from the world's largest economies.

(Reporting by David Lawder in Washington; Editing by Nia Williams)

Key Takeaways

  • US Treasury Secretary Bessent met with Hungary's Foreign Minister.
  • Discussion focused on economic and national security priorities.
  • The meeting was described as introductory.
  • No mention of Russia's war in Ukraine in the meeting.
  • Bessent to skip upcoming G20 finance meeting in South Africa.

Frequently Asked Questions

What did Secretary Bessent emphasize during his meeting?
Secretary Bessent emphasized the importance of the U.S.-Hungary relationship and continued coordination between the two countries at this important time for Europe.
Was Russia's war in Ukraine mentioned in the discussions?
The statement did not include any references to Russia's war in Ukraine nor President Donald Trump's desire to end it quickly by kicking off talks with Moscow.
What exemption did the Biden administration grant Hungary?
Former president Joe Biden's administration in December granted Hungary an exemption from sanctions on Russia's Gazprombank, allowing Hungary to continue making payments for Russian gas.
Why will Bessent skip the G20 finance ministers meeting?
Earlier on Wednesday, sources told Reuters that Bessent would skip a G20 finance ministers and central bank governors meeting in South Africa next week.
What issues has Hungary's government faced with Western allies?
Hungarian Prime Minister Viktor Orban's nationalist government has long been at loggerheads with Hungary's Western allies on a range of issues, including its relatively good economic ties with Russia.

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