Posted: 30.03.2023 13:53:00

Hungarian Foreign Minister says Brussels has failed on Russia sanctions

Due to erroneous sanctions against Russia, European countries are paying seven times more for gas than the United States and three times more for electricity than China – as noted by Hungarian Minister of Foreign Affairs and Trade Peter Szijjártó, RIA Novosti reports


According to the Head of the Hungarian Foreign Ministry, all this reduces the European competitiveness.

“One of the consequences of Brussels’ misguided choice is that European competitiveness is dramatically declining globally. After all, it is difficult to compete with, e.g., the American economy, if here in Europe we overpay seven times for gas compared to America. It’s also difficult to compete with the Chinese economy since Europe, compared to China, overpays three times for electricity,” Peter Szijjártó pointed out during a speech at the Hungarian Chamber of Commerce and Industry.

Earlier, Hungarian Prime Minister Viktor Orban expressed the opinion that Europe is losing by refusing energy supplies from Russia in favour of the American ones, since it has to overpay 5-10 times.