Orban proposes to reconsider EU energy sanctions against Russia

The European Union needs to reconsider sanctions against Russia because they keep energy prices high, which undermines the bloc's economic competitiveness.

This was stated by Hungarian Prime Minister Viktor Orban, RBC-Ukraine reports citing Reuters.

“Energy prices must be reduced by any means necessary. This means that sanctions need to be reviewed, because under the current sanctions policy, energy prices will not go down,” Orban said in an interview with Hungarian public radio.

Orban said that American companies pay a quarter of what their European counterparts spend on gas and electricity, a disadvantage that cannot be overcome by other means.

After Russia's invasion of Ukraine in early 2022, Orban became a vocal critic of EU sanctions against Moscow, as well as the financial and military support the bloc provides to Kyiv.

While Western European countries have made serious efforts to wean themselves off Russian energy, Hungary receives 80-85% of its gas from Russia, and 80% of its crude oil supply also comes from its former communist ally.

European Union leaders signed a declaration on competitiveness during their informal summit last week.

Author - Dmitriy Levchenko, 15/11/2024