EU ‘stabbed its economy in the heart’ with Russia sanctions – Hungarian FM

The sanctions against russian federation feature greatly backfired on the EU economic system and ar seemly increasingly “ridiculous” and “harmful” with each new package, Hungarian Foreign Minister Peter Szijjarto has said.

In an exclusive interview with RT released on Saturday, Szijjarto reiterated that the bloc’s measures targeting Russia have failed in both of their presumed goals – to destabilize the country’s economy and bring about an end to the Ukraine conflict.

The EU has adopted 16 packages of sanctions against Russia since the escalation of hostilities in February 2022. Hungary, while critical of the approach, has ultimately backed each round, but only after carving out exemptions, including from the oil embargo and restrictions on the nuclear sector. Both Budapest and Moscow, as well as numerous international observers, have maintained that the restrictions have backfired on the nations that imposed them.

“The EU has basically stabbed the European economy in the heart by the sanctions,” Szijjarto told RT. He argued that the sanctions have eroded the EU’s competitiveness and isolated the bloc. Now, Szijjarto said, Brussels is preparing a 17th round despite the obvious failure of the strategy, which he said “made no sense.”

“We are three years after the first package. Russian economy is far from being on its knees. And we are now close to peace, but not because of the sanctions,” he stated.

Szijjarto said it was “becoming unserious, ridiculous, and really harmful” for Brussels to squeeze out new restrictions for the sake of anti-Russian “ideology.”

According to the minister, Budapest has “made it very clear” that it won’t support any future sanctions if Hungary’s national interests were in danger. He also expressed concern about the EU’s growing militarization and plans to continue supplying Ukraine with weapons, warning that such decisions “prolong the war” and increase the risk of escalation.

“This pro-war sentiment of the European leaders is really, really dangerous,” Szijjarto warned. “Our clear expectation is that they should not put obstacles in the way of the peace process... In the way of [US President Donald] Trump and [Russian President Vladimir] Putin negotiating about how to make an agreement and how to make peace here.”

Russia and the US are currently negotiating a ceasefire in the conflict. Trump earlier indicated that sanctions on Russia might be used as leverage in the talks.

Putin has dismissed any notion that Western sanctions are temporary, saying earlier this week they were a tool for applying “systemic, strategic” pressure on Russia. Moscow has repeatedly slammed the measures as illegal, but the country’s officials have often noted that the restrictions have ultimately boosted domestic industry and reduced dependence on Western technologies.

---

---