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At EU Summit, Hungary Says West Must Stop Adding Sanctions On Russia


Hungary mentioned that negotiation is the higher choice as a substitute of including extra sanctions on Russia.

Brussels:

The European Union ought to cease including sanctions on Russia over its invasion of Ukraine and as a substitute push for a ceasefire and the beginning of negotiations, a senior aide to Hungarian Prime Minister Viktor Orban mentioned on Thursday.

Speaking on the sidelines of a summit of EU leaders which granted Ukraine the standing of a candidate to turn out to be a member of the EU, the aide mentioned the extra sanctions the EU adopted the extra they damage the bloc, whereas Russia survived.

“At the end of the day Europe will be on the losing side of this war because of the economic problems. Our recommendation would bee that we should stop the sanction process,” Balazs Orban, not associated to the prime minister, advised Reuters in an interview.

Hungary is without doubt one of the most pro-Russian EU nations, closely depending on Russian fuel and oil. Russia can be constructing a nuclear reactor for Hungary. Budapest had held up the newest bundle of sanctions in opposition to Moscow that included a ban on Russian oil imports till it negotiated an exemption for itself.

“Right now what we experience is that the more sanctions we accept, the worse shape we are in. And the Russians? Yes, it hurts them as well, but they survive. And what is even worse, they proceed in Ukraine,” Balazs Orban mentioned.

Since the beginning of the Russian invasion of Ukraine on Feb. 24, the 27-nation European Union has agreed on six packages of sanctions that embody asset freezes and visa bans on Russian oligarchs and officers, export controls, freezing central financial institution property, disconnecting banks from the SWIFT messaging system and a ban on imports of Russian coal and oil.

But some officers argue that particular person oligarchs can stay with out a few of their yachts or Western villas, have most likely already moved liquid property outdoors the EU and export controls may be circumvented by China and others.

The freeze on the Russian central financial institution reserves is made much less painful by the billions of {dollars} Russia will get each day for its oil and fuel nonetheless flowing to Europe, they are saying. Once the EU stops shopping for Russian oil subsequent yr, the crude could be offered and shipped by tankers to China or India, some officers say.

Others argue the sanctions are working, however it would take time earlier than their full affect on the Russian financial system exhibits.

Orban, nevertheless, mentioned the EU ought to change its ways.

“We reached a point when we realise that we followed the strategy for four months, we have some achievements, but if it continues like this, according to reasonable thinking, it will end up in a bad way for Europe. So we have to think about something. Negotiations, ceasefire, peace. Diplomacy. That’s our solution,” Orban mentioned.

(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)



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