Hungary Plans Talks On Oil Prices After US Sanctions On Russia

BUDAPEST, Jan 12 (Reuters) – Hungary plans to hold talks with regional allies to counter the impact of higher oil prices resulting from a new round of US sanctions on Russia’s oil and gas sector, Hungarian Foreign Minister Peter Szijjarto said on Sunday. 

U.S. President Joe Biden’s administration imposed its broadest package of sanctions so far targeting Russia’s oil and gas revenues on Friday to give Kyiv and Donald Trump’s incoming team leverage to reach a deal for peace in Ukraine.

Oil prices hit a three-month high after the sanctions news broke.

The U.S. Treasury imposed sanctions on Russian companies Gazprom Neft SIBN.MM and Surgutneftegas t…