Ukraine's MFA Responds With Numbers to Hungary's Statements About "Sanctions Harm, Not Russia but EU"

The Ministry of Foreign Affairs of Ukraine has responded with official numbers to the latest statements of the Minister of Foreign Affairs of Hungary, who complained that European sanctions against Russia were more harmful to Europe than to the Russian economy.

Oleh Nikolenko, the official representative of the Ministry of Foreign Affairs, has cited data from the Council of the EU, the World Bank, and the IMF, demonstrating the actual effect of sanctions on Russia. Its GDP decreased by 5.5-9%, trade volumes - by 30-35%, inflation reached 22%, about a thousand foreign companies, which accounted for 40% of their GDP, left the country; oil imports to the EU will decrease by 90% by the end of the year. In addition, the Russian Federation cannot openly import many technologies and components.

"The Russian economy has rolled back thirty years. Statements that European sanctions do not affect the Russian economy are untrue. Suppose Moscow or Budapest did not try to diminish the effectiveness of Brussels' decisions. The sanctions work and limit the Russian Federation's ability to finance the war against Ukraine. Then who should resign: those who protect peace and security in Europe or those who undermine the EU's efforts to counter Russian aggression?" Oleh Nikolenko summarised.

As previously reported, the Minister of Foreign Affairs of Hungary, Péter Szijjártó, once again criticised the EU sanctions against Russia and said that the leaders who supported it should resign.