The European Union must rereconsider its sanctions against Russia to reduce energy prices in the European market and enhance its own competitiveness, stated Hungarian Prime Minister Viktor Orbán stated, according to Reuters.
Viktor Orbán is known as one of Russian ruler Vladimir Putin’s closest allies within the European Union. He was the first EU leader to meet with Putin since the all-out war began. Previousely, Orbán has also opposed sanctions against Russia, claiming they are ineffective.
“Energy prices need to be lowered by all means. This means that sanctions need to be reconsidered because, under the current sanctions policy, energy prices will not go lower,” claimed Orban.
The Hungarian prime minister stated that the cost of gas and electricity for American companies is four times lower than for European companies. He believes this disadvantage cannot be overcome by other means other than reducing economic restrictions.
Earlier, Viktor Orbán called on the EU to review aid to Ukraine. His claims came the day after Donald Trump’s victory in the US election. Specifically, the Hungarian prime minister wants to revise plans for a $50 billion loan to Ukraine, which the EU, the US, and G7 countries pledged last summer.
Orbán urges EU to rethink Ukraine aid strategy following Trump’s election victory
He also stated that Europe would not be able to finance Ukraine’s defense on its own if the US ceases its support. Moreover, he claimed that Ukraine is already losing the war.
Related:
- Politico: Hungary flirts with Putin and snubs NATO meeting, situation reaching boiling point
- Politico: EU eyes new Russia sanctions push as Hungary’s presidency nears end
- Bloomberg: France and Germany skeptical of plan to override Hungary’s veto on Ukraine aid
- EU proposes voluntary contributions to bypass Hungary’s veto on Ukraine aid
