Sanctions against Russia ‘kill’ the EU economy: Orban – RT Business News

Sanctions against Russia ‘kill’ the EU economy

Hungarian PM says EU response to Moscow was a miscalculation and has failed badly

The EU sanctions against Russia were “miscalculatedand could destroy Europe’s economy unless Brussels changes its stance, Hungarian Prime Minister Viktor Orban said in a radio interview on Friday.

“The moment of truth must come in Brussels, when leaders admit that they have miscalculated, that sanctions policy was based on faulty assumptions, and that it must be changed.”, declared Orban, an outspoken critic of the EU’s policy on Russia.

He said that while Ukraine needs help, the bloc’s leaders should change their strategy regarding Russia.

He added that the sanctions failed to destabilize Russia’s economy and did not force Moscow to stop the military operation. He went on to say that instead they have caused widespread damage to the EU’s own economic stability.

“Sanctions do not help Ukraine, however, they are bad for the European economy and if they continue like this, they will kill the European economy… What we see right now is unbearable,”, affirmed the Hungarian leader.

Orban warned of an impending recession in the EU as a result of his anti-Russian policy back in May, when he said that the current energy crisis, along with interest rate hikes in the US.have jointly brought about the era of high inflation,” which “will bring with it the era of recession.”

Two months later, however, he appears to have even deeper doubts about the future of the bloc’s economy.

“Initially, I thought we just shot ourselves in the foot. [with anti-Russia sanctions]but now it is clear that the European economy has shot up in the lungs, and is out of breath,Orban warned.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.