Hungary’s PM eyes oil price cut after US operation in Venezuela

AFP | Budapest

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Hungary’s Prime Minister Victor Orban on Monday said the US operation in Venezuela was a sign of the “new world” and would lead to a fall in energy prices sought by Donald Trump to carry out his economic programme.

Nationalist leader Orban, who is an admirer of the US president, called the US toppling of President Nicolas Maduro “a new language... that the world will speak in the future”.

“With Venezuela, the United States is now able to control 40 to 50 percent of the world’s oil reserves,” he told a news conference, estimating that it would lead to a fall in prices.

“I can see a serious possibility that following the bringing of Venezuela under control, a more favourable energy situation for Hungary will emerge, and that’s good news.”

Orban also justified his decision not to join a European Union call on Sunday for the will of the Venezuelan people to be respected, citing his opposition to EU foreign policy.

“Coordinating the foreign policy of 27 member states is a good thing and it’s possible. But there is no need to have a common foreign policy because we don’t agree -- and we will not agree -- on many foreign policy issues,” he added.

“We don’t agree on Venezuela, we don’t agree on the Russia-Ukraine war, on the Middle East. On Israel, we are completely divided,” he added, arguing that only trade policy was within the EU’s remit.

EU foreign policy chief Kaja Kallas on Sunday called for “calm and restraint” to prevent an escalation of the crisis in Venezuela, in a statement on behalf of all member states except Hungary.

“Respecting the will of the Venezuelan people remains the only way for Venezuela to restore democracy and resolve the current crisis,” Kallas said. Media outlets at Orban’s news conference on Monday were allowed to ask only one question each, with no opportunity for follow-ups.

The prime minister promised that “no question would go unanswered” but several leading media organisations, including AFP, were unable to ask questions.