Orbán Warns of Economic Risks from EU Sanctions on Russia

Hungarian Prime Minister Viktor Orbán has recently assessed the potential economic risks posed by EU sanctions against Russia, warning that these measures could lead to economic collapse within EU countries [da27f1af]. He argues that the sanctions are more detrimental to EU nations than to Russia itself, calling for a re-evaluation of the sanctions regime. Orbán emphasized that the sanctions will not lead to lower energy prices, a critical concern for Hungary and other EU member states [da27f1af].

This warning comes amid Orbán's ongoing support for the Moscow Peace March, which has drawn condemnation from the European Parliament. The Parliament's resolution calls for the suspension or expulsion of Orbán's Fidesz party from the European People's Party (EPP) due to accusations of undermining democratic institutions and the rule of law in Hungary [0b7aeca1]. The resolution also expresses concerns about Russia's influence in European politics [0b7aeca1].

Since Russia's invasion of Ukraine in 2022, the EU has imposed multiple sanctions targeting various sectors, but Orbán claims that Hungary has managed to continue importing Russian oil and gas, thereby shielding itself from the adverse effects of these sanctions [da27f1af]. He also predicts that the newly elected President Donald Trump could bolster Hungary's economy, highlighting the divisions within the EU regarding sanctions and energy dependence [da27f1af].

In addition to these economic concerns, Orbán has formed an alliance called 'Patriots for Europe' with Austria's far-right Freedom Party and the main Czech opposition party, aiming to become the largest right-wing group in the European Parliament [8259c78d]. This alliance prioritizes sovereignty, freedom, and peace, and is seeking to attract lawmakers from at least four more EU countries to successfully form a group in the new parliament [8259c78d]. The European Parliament elections in early June saw varying performances of hard-right parties across different countries [8259c78d].