Hungary lost 6.5 billion USD due to sanctions against Russia

The Hungarian economy has suffered a loss of 6.5 billion USD as a result of the economic sanctions imposed against Russia – the Minister of Foreign Affairs and Foreign Economic Relations told Kommersant newspaper in an interview published in Tuesday’s edition.

Szijjártó Péter said that the sanctions are ineffective and harmful.

“Our calculations suggest that Hungary lost 6.5 billion USD export profits over the past three years. Considering that the Hungarian annual export value is 90 billion USD, it is a sensitive loss.” – he added. Szijjártó expressed the hope that the EU at its summit in March will ease the economic punitive measures, adding that much will depend on the Russian-American dialogue. (MTI)