'Europe heading towards most serious energy crisis of all time,' Hungarian premier warns

Hungarian Prime Minister Viktor Orban warned on Tuesday that Europe is moving towards the "most serious energy crisis of all time," during a joint news conference with US Vice President JD Vance in Budapest.

"Europe is heading towards the most serious energy crisis of all time, we are seeing drastic price increases, and if we do not act in time, there may be a shortage of energy, oil, and gas," Orban told reporters amid soaring energy prices due to tensions in the Middle East.

Reaffirming that negotiations are underway on the bloc's energy crisis, he pointed to the significance of an American-Hungarian energy cooperation.

He stressed that without such cooperation, they would not be able to guarantee Hungary's energy security, and the reduction of utility bills would not be possible.

Orban further hailed the peace efforts initiated by US President Donald Trump regarding the ongoing Moscow-Kyiv war, and said that if Brussels did not hinder his efforts, "there could have been peace in Ukraine long ago."

He also underscored that it is particularly important for them that the US under Trump initiated a peace summit and suggested Budapest as the venue, which, Orban said, "is practically the only possible European location."