Orban Says Venezuela Developments May Benefit the World

Hungarian Prime Minister Viktor Orban said that the latest developments in Venezuela could have a positive effect on global energy markets, according to remarks cited by Reuters.

Orban argued that if Venezuela and the United States act together, they could exert control over between 40% and 50% of global oil supplies. Such a concentration, he noted, would give them significant leverage over international oil prices and could lead to more favorable conditions on energy markets worldwide.

At the same time, Hungary has moved away from the dominant position within the European Union following the detention of Venezuelan President Nicolas Maduro, a stance supported by the other 26 EU member states.

In a statement presented by the EU’s High Representative for Foreign Affairs, Kaja Kallas, the bloc stressed that respect for international law in Venezuela remains essential. According to the EU position, the will of the Venezuelan people is the only legitimate path toward restoring democracy in the country and overcoming the current political crisis.