Hungary claims every European country does business with Russia
Date
9/23/2024 8:14:56 AM
(MENAFN) Hungarian Foreign Minister Peter Szijjarto recently revealed that numerous companies across the European Union are still conducting business with Russia, despite the sanctions imposed by the bloc. During a statement in Budapest on Friday, he remarked, “Here I would like to disappoint the idealists; the reality is that everyone in Europe is doing this.” He emphasized that Hungary differs from other nations in that it openly acknowledges its dealings with Russia, whereas some countries prefer to deny such interactions.
Szijjarto expressed Hungary's disagreement with the European Union sanctions but clarified that Budapest respects them as part of the bloc's policy. He highlighted that Hungary often vetoes specific European Union proposals that could adversely affect its national interests, emphasizing that fostering economic cooperation with Russia is a key priority for the country.
The European Union has imposed sanctions on Russia since 2014, initially in response to the annexation of Crimea, and has expanded these measures following the escalation of the Ukraine conflict in 2022. The sanctions primarily target vital sectors of the Russian economy, including energy, finance, and trade.
Hungary's stance has put it at odds with the broader European Union consensus regarding its approach to the Ukraine conflict and sanctions against Moscow. This discord has complicated efforts within the European Union to agree on new restrictions, as highlighted by diplomatic sources.
Experts from both Russia and the West have cautioned that unilateral sanctions may ultimately harm the countries imposing them more than Russia itself. European Union officials have also recognized that Russia has been adept at circumventing these sanctions. For instance, data from the Russian Finance Ministry indicated that budget revenues from oil and gas increased by 73.5 percent in the first five months of 2024 compared to the same period in 2023.
This situation underscores the complexities of the European Union's sanctions regime and the ongoing economic ties that persist between European nations and Russia, revealing a landscape of business interactions that challenges the effectiveness of the imposed restrictions.
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