The European Union should reconsider sanctions against Russia as they keep energy prices high and hamper the bloc's economic competitiveness.
That is what Hungarian Prime Minister Viktor Orban said.
"Energy prices must be reduced by all means. This means that sanctions must be reviewed because under the current sanctions policy energy prices will not be reduced," Orban said in an interview with Hungarian public radio. He said "US companies pay a quarter of the amount their European counterparts spend on gas and electricity, a disadvantage that cannot be overcome by other means". Last week, European Union leaders signed a declaration on competitiveness at their informal summit.
Since Russia launched its military operation against Ukraine in early 2022, Orban has emerged as a sharp critic of EU sanctions against Moscow and the bloc's financial and military support for its neighbour.
While countries in Western Europe have made serious efforts to move away from Russian energy, landlocked Hungary gets 80-85% of its gas from Russia, with 80% of its crude supplies also coming from its former communist ally.
Since 2022, the EU has imposed a series of sanctions on Russia aimed at paralysing its economy and pressuring the Kremlin to end the war. These sanctions include measures targeting Russia's energy sector, financial institutions and key industries. | BGNES
