Are you sure?

MOL buyback first step toward bigger state role, says Ministry

Hungary's buyback of a 21.2% stake in oil and gas company MOL from Russian peer Surgutneftegas is a first step toward implementing the government's strategy aimed to strengthen the role of state, the National Development Ministry said on Tuesday.

Political instability in North African countries has made clear the vulnerability of countries that depend on energy imports, the Ministry said.

The government sees keeping or establishing ownership positions in strategic energy companies an important task of economic defense, it added.

In the future, the government will continue to use tools at its disposal to keep the influence or ownership of foreign governments and foreign companies in companies of strategic national importance "within reasonable limits".