FT News Briefing Hungary looks to Trump for sanctions exemption
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Nov 7, 2025 
Henry Foy, the Brussels bureau chief at the Financial Times, discusses Hungary's Prime Minister Orbán's quest for a US exemption from Russian oil sanctions. He highlights Orbán's political strategy and potential fallout if Trump rejects his plea, including risks of oil shortages and inflation. Katie Martin shares insights on the UK bond markets, explaining why they remain stable despite impending tax increases from Chancellor Reeves, suggesting investors are bracing for the financial shifts ahead.
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Musk's Pay Deal Wins Over Investors
- Tesla shareholders approved a $1tn CEO performance award with over 75% support.
- Elon Musk framed it as necessary to boost his stake and shield Tesla from activists.
Hungary Seeks Oil Sanctions Exemption
- Hungary seeks a US exemption from new sanctions targeting Russian oil companies Lukoil and Rosneft.
- Viktor Orban argues losing cheap pipeline oil would hurt the economy and his re-election chances.
Orban Will Play the Trump Ally Card
- Orban will lean on his political alignment with Trump to argue for help and electoral support.
- Henry Foy warns failure would shatter Orban's image of closeness to Trump and expose vulnerability.