A top Russian oil company yesterday snapped up a 21.2 per cent stake in Hungary's key oil and gas group, in a clear sign of Russia's determination to boost its position in the European Union's energy market.

Surgutneftegaz, a cash-rich oil producer loyal to the Kremlin, bought the €1.4bn stake in Mol from OMV, the Austrian energy and chemicals company, which abandoned a two-year takeover bid for the Hungarian group.