Hungary: ​EU sanctions like “shooting oneself in the foot”

Hungarian Prime Minister Viktor Orban has urged a rethink of the European Union’s sanctions policy toward Russia, saying the measures are like “shooting oneself in the foot.”

The sanctions policy pursued by the West, that is, ourselves, a necessary consequence of which, has been what the Russians are doing, causes more harm to us than to Russia,” Reuters quoted Orban as saying on the radio, he added “in politics, this is called shooting oneself in the foot.

Russia is Hungary’s largest trade partner outside of the EU, with exports worth $3.4 billion in 2013. Also it is highly dependent on Russian energy. Earlier this year Hungary agreed a $13 billion deal with Russian power company Rosatom to expand the country’s only nuclear power plant.

The EU should not only compensate producers somehow, be they Polish, Slovak, Hungarian or Greek, who now have to suffer losses, but the entire sanctions policy should be reconsidered,” the Hungarian Prime Minister said, saying he is already looking for support to force through changes.

Despite the negative sentiment on Tuesday, Hungary’s Agriculture Ministry stressed the Russian embargo won’t significantly affect the Hungarian economy as the banned products account for less than a third of Hungarian agricultural exports to Russia, being only one percent of total national farming exports.

Despite weak growth in the eastern countries of the EU, Hungary, together with Slovakia and Bulgaria have shown better than expected figures, with 0.8 percent quarterly expansion according to Thursday’s preliminary GDP estimates.

On Thursday, Matteo Salvini, the leader of Italy’s Northern League party, called on Brussels to immediately repeal the sanctions against Russia.

Only fools, Brussels and Rome, could decide to impose economic sanctions against Russia, which now sends us back tons of Italian agricultural products worth more than €1 billion,” Salvini wrote on his Facebook page “Who will pay our farmers? Renzi? Merkel?


this is exactly what i have been saying..the sanctions will hurt the initiators more than the sanctioned..its called shitting in your own nest..and more and more european countries are saying no..


~ by seeker401 on August 20, 2014.

5 Responses to “Hungary: ​EU sanctions like “shooting oneself in the foot””

  1. just another way for them to create an artificial monopoly and shortages so they can raise prices for gas ect

  2. >>..Latvia exported 90% of its fish to Russia. Now many fish and sea food producers of the country face bankruptcy. Lithuania is in trouble having lost the market for two thirds of exported pork. Estonia is going through hard times as it exported from one forth to one third of its agricultural products to Russia. Finish butter producers are in panic. They have exported their product to Russia since the start of the last century.<<

    I really do feel for the Finns.. they are a real peace loving people in the hell did they managed to get tangled in this mess?

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