Orban: EU sanctions against Russia must be rethought to reduce energy costs

Hungarian Prime Minster Viktor Orban stated on Friday that the European Union should reconsider its sanctions against Russia, as they keep energy prices high and hinder the bloc's competitiveness.

At their informal summit held last week, the leaders of the European Union signed a statement on competitiveness.

"Energy costs must be reduced by any means necessary." In order to lower energy prices, the sanctions must be re-evaluated.

Orban stated that U.S. firms pay only a quarter the amount of their European counterparts for gas and electricity. This is a disadvantage which could not be overcome through other means.

Orban is a vocal critic against the EU sanctions imposed on Moscow since Russia invaded Ukraine at the beginning of 2022. He also opposes its financial and military assistance to Ukraine.

While western European countries have been working hard to reduce their dependence on Russian energy, Hungary, a landlocked country, gets 80-85% its gas and 80% its crude oil from Russia.

(source: Reuters)