Sanctions against Russia keep energy prices high and hinder the EU’s economic competitiveness, Hungarian PM Victor Orban has said
Economic problems within the bloc stem from the Ukraine conflict and restrictions placed on Moscow, according to the Hungarian PM
The EU must reconsider the sanctions it has placed on Russia in connection with the Ukraine conflict, and work to end hostilities as soon as possible, Hungarian Prime Minister Viktor Orban has said.
Speaking on Kossuth Radio on Friday, Orban explained that the current economic problems within the bloc stem from Brussels’ “hare-brained” decision to respond to the Ukraine conflict by placing restrictions on Moscow, which have driven up energy prices and overall inflation, hindering the EU’s competitiveness.
The EU declared the elimination of its reliance on Russian energy as a key priority after the Ukraine conflict escalated in February 2022. Sanctions and the sabotage of the Nord Stream pipelines later that year led to a dramatic drop in Russia’s gas supplies to the bloc, resulting in a spike in energy prices and soaring inflation.
“Sanctions were a wrong, hare-brained answer to the [Ukraine conflict], the EU made a mistake… Energy prices must definitely be brought down. This means that the sanctions must be reconsidered, because the policy of sanctions… it will destroy the European economy,” Orban stated. He called for an “anti-bureaucratic rebellion” within the bloc so that decisions on EU policies will be made with the people’s welfare in mind, both in regard to sanctions and to peace.
Orban also said that European businesses and industries cannot focus on development goals and growth opportunities when there is a war going on, so everything needs to be done to end the Ukraine conflict.
“If we look at this conflict from the point of view of our pockets, our economy, our income, it is a scourge of God on us all… In order to be successful again, we have to end it, end it as soon as possible,” he stressed.
Orban said Hungary would continue its diplomatic efforts toward peace in Ukraine, but said that it needs “a protagonist” who will be “strong enough to not only want peace but also to be able to create it.” He reiterated his hope that the power shift in the US with Donald Trump’s election would help achieve that goal. The Republican has previously claimed that he could end the Ukraine conflict in 24 hours. Until Trump takes office in January, Budapest will work on “achieving change in Brussels” to make sure “EU bureaucrats” do not decide to “continue the war without the Americans,” Orban pledged.
Orban has long been at odds with Brussels over the approach to Ukraine, opposing both aid to Kiev and sanctions on Moscow. Tensions grew further after he met with Russian President Vladimir Putin as part of his Ukraine ‘peace mission’ earlier this year.
Some EU leaders accused Orban of siding with Russia and abusing Hungary’s rotating presidency of the bloc. The premier clarified that he was representing only his own nation, but pledged to continue to work on changing the EU’s overall stance on the conflict.
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