Mol to purchase $500 million worth of oil from U.S., Hungary to buy HIMARS missile systems

During his visit to Hungary, US Vice President J. D. Vance signed several agreements. Although some of this is not entirely new information, a White House statement announced that Mol will purchase 510,000 tons of oil from the United States and American oil companies, totaling $500 million.

In addition, as part of a research project, Hungary will also be purchasing a small modular reactor (SMR) for the purpose of evaluating the technology. As a result of this research, the country may later purchase up to 10 American SMRs, worth a total of $20 billion. Hungary's MVM has signed a memorandum of understanding regarding this cooperation with GE, Holtec, and Westinghouse. The nuclear energy agreements do not end there: Westinghouse has also signed a memorandum of understanding with MVM about extending the lifespan of the Paks 1 nuclear power plant.

Additionally, GE’s healthcare division has signed a memorandum of understanding with Semmelweis University to establish an oncology center that would utilize American and artificial intelligence-based technologies for the diagnosis and treatment of cancer patients.

Microsoft has entered into an agreement with the Hungarian government to strengthen the digital infrastructure of public institutions through cloud-based services, and along with Gábor Dénes University, the three parties have signed a memorandum of understanding to provide digital and AI training to Hungarian SMEs.

J. D. Vance also agreed with the Hungarian administration that Hungary would purchase HIMARS missile systems worth $700 million. 4iG agreed with L3 Harris that the American company would integrate its communications technology into the Hungarian HIMARS program to enable more effective cooperation with U.S. and NATO units. In addition, 4iG has also signed a contract for satellites; we wrote more about this here.