Russia's deputy prime minister in charge of energy, Igor Sechin, last week moved to defend Surgutneftegas' purchase of a 21.1% stake in Hungarian Mol earlier this year, which provoked an outcry in Hungary. "The size of the investment is such that the Russian government cannot help but pay attention to the unfavorable situation around the deal," Sechin said during a meeting with Janos Veres, the co-chairman of the Russian- Hungarian economic cooperation commission. He added that "the deal was carried out in accordance with market rules and did not require additional approvals." He said he believed "such an investment is effective and profitable for both sides" and that "the normalization of the situation may become a positive factor for both the company and Russian-Hungarian relations in general."
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