Hungarian Foreign Minister Péter Szijjártó said that Europe was not allowed to bring Russia’s economy to its knees.
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European Union sanctions have not brought the Russian economy to its knees, on the contrary, the European economy suffers from them more than the Russian one. Hungary’s Minister of Foreign Affairs and Foreign Economic Relations Peter Szijjártó said this in an interview with CNBC on the sidelines of the World Economic Forum in Davos on Tuesday.
“If you assess, analyse the impact of the sanctions, it is clear that they have not met expectations. What were the expectations at the beginning of March, at the end of February, when we were discussing the first package of sanctions? That they would bring Russia’s economy to its knees and thus the war would soon end. The Russian economy is certainly not on its knees. We may have different views on how badly their economy is doing, but they are not on their knees and the war is not coming to an end. And Europe’s economy suffers more from sanctions than Russia’s,” the minister said.
He said that Europe should not engage further in imposing further sanctions because they “simply failed to meet expectations and goals”. Szijjártó pointed out that the sanctions had not helped bring the end of the conflict any closer.
“We condemn the war, but we must not harm ourselves any further. Eventually we will have to contribute to Ukraine’s reconstruction, but if we destroy our own economies, we will not have the opportunity to rebuild Ukraine,” the Hungarian foreign minister added.
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