On Monday afternoon, Hungarian Prime Minister Viktor Orbán and Serbian President Aleksandar Vučić held a press conference at the Karmelita Monastery in Budapest, where they discussed a new joint initiative to construct an oil pipeline aimed at enhancing energy security for both nations.

The proposed pipeline, which will span approximately 300 kilometers, is currently in its preparatory stages.

During the conference, Orbán emphasized the interdependence of energy security between Hungary and Serbia, stating, "There is no Serbian energy security without Hungary, and no Hungarian energy security without Serbia." He noted the significance of this collaboration in light of destabilization attempts faced by both countries in recent months, referring to recent protests in Serbia as indicative of this wider regional challenge.

Orbán recognized Vučić’s leadership, asserting that Serbia's stability is crucial for the stability of the Balkans.

He further commended Serbia’s ability to avoid conflict despite external pressures and highlighted that 40% of Serbia's foreign trade occurs outside the European Union, a point he related to ongoing discussions about regional connectivity.

"The wind has changed, and we are now benefiting from favorable conditions," Orbán remarked regarding the current state of Serbian-Hungarian relations.

In his remarks, President Vučić expressed his gratitude for receiving Hungary's highest award, the Grand Cross of the Order of Merit, which he viewed as a symbol of the sincere and open friendship between the two nations.

He credited Orbán for fostering good relations, noting the significance of past leaders in this effort.

Vučić indicated that Hungarian culture and politics are well-regarded in Serbia, stating that approximately 80% of Serbians support Hungary's national water polo team during matches that do not involve direct competition between the two countries.

Additionally, he expressed optimism about future transportation plans, hoping for reduced travel time between Belgrade and Budapest to 2 hours and 40 minutes with the development of a new railway line.

The two leaders also discussed the strategic importance of the oil pipeline, with Orbán noting its potential crucial role in future circumstances, independent of economic evaluations.

He drew parallels to the gas pipeline to Slovakia, which gained importance following the outbreak of war in Ukraine.

Vučić reaffirmed his administration's commitment to energy diversification, revealing discussions with the head of Rosatom regarding the potential introduction of nuclear energy to Serbia, citing the need for Serbia to build a nuclear power plant.

Regarding broader geopolitical concerns, both leaders addressed the impact of international dynamics on the region.

Orbán mentioned the ongoing war in Ukraine as a central issue, while Vučić reflected on external efforts to destabilize Serbia, indicating a forthcoming publication where he aims to elaborate on these challenges.

In conclusion, the joint efforts between Hungary and Serbia reflect a shared commitment to enhancing bilateral ties and addressing regional stability challenges, with both leaders pledging to continue their collaborative approach amidst evolving geopolitical landscapes.