Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Sweden seeks EU sanctions targeting "individual Israeli ministers": Minister to AFP
UK pauses trade deal talks with "Israel", summons ambassador over new Gaza offensive
Al Mayadeen's correspondent: 67 martyrs in Israeli strikes on Gaza since morning.
Al Mayadeen's correspondent in West Bank: Occupation executes large-scale operation in Al-Jamasin, al-Eyada neighborhoods in Old Askar Camp, East of Nablus.
Al Mayadeen's correspondent in South Lebanon: One person killed in strike that targeted a motorcycle in Al-Mansouri.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes motorcycle in town of Al-Mansouri.
Yemeni Armed Forces: The blockade on the Port of Haifa comes following the successful imposition of the siege on the Port of Umm al-Rashrash, which has since ceased operations
Yemeni Armed Forces: The Port of Haifa is now officially part of our target bank
Yemeni Armed Forces calls on companies with ships currently in the Port of Haifa or en route to it to take into account the contents of the statement and any forthcoming announcements
Yemeni Armed Forces: The imposition of a blockade on the Port of Haifa comes in response to the enemy’s escalation of its brutal aggression against Gaza and the continued siege and starvation

Orban: Europe 'shot itself in the lungs' with sanctions on Russia

  • By Al Mayadeen English
  • Source: Agencies
  • 15 Jul 2022 21:08
2 Min Read
  • x
  • Hungarian Prime Minister Viktor Orbán | Attila Kisbenedek/AFP via Getty Images
    Hungarian Prime Minister Viktor Orban (Photo: AFP via Getty Images)

The European Union has "shot itself in the lungs" with imprudent economic sanctions on Russia, which risk destroying the European economy if not rolled back, Hungarian Prime Minister Viktor Orban said on Friday.

Since the start of the war in Ukraine and the imposition of sanctions by the West, gas supplies to Europe have tightened and fuel costs have increased, leaving countries scrabbling to refill storage and look for other supply channels. 

The surge in prices pushed Orban on Wednesday to curtail a years-long cap on utility prices for higher-usage households, removing one of the prime minister's signature economic policies.

"Initially, I thought we had only shot ourselves in the foot, but now it is clear that the European economy has shot itself in the lungs, and it is gasping for air," Orban told public radio in an interview.

Related News

Hungary votes to begin withdrawal from International Criminal Court

EU weighs 17th sanctions package on Russia amid ceasefire push

Read: Hungary urges EU to ditch sanctions policy, resort to diplomacy

The prime minister said European leaders should rethink their strategy, due to the widespread damage caused to the European economy.

"The sanctions do not help Ukraine, however, they are bad for the European economy and if it goes on like this, they will kill off the European economy," he said. "What we see right now is unbearable."

"The moment of truth must come in Brussels when leaders admit they have made a miscalculation, that the sanctions policy was based on wrong assumptions and it must be changed."

Re-elected in April, Orban said that without Wednesday's curbs, which would lead to a rise in energy costs for households consuming energy, the entire utility price cap regime would have to be scrapped.

  • Viktor Orban
  • war in Ukraine
  • Hungary
  • Russia
  • Sanctions on Russia
  • European Union

Most Read

Gaza and the logic of necropolitics: Sovereignty measured by killing

Gaza and the logic of necropolitics: Sovereignty measured by killing

  • Politics
  • 15 May 2025
Two F-35 jets arrive at it's new operational base Wednesday, Sept. 2, 2015, at Hill Air Force Base, in northern Utah. (AP)

F-35 near-misses over Yemen signal new risks for 'Israel': Forbes

  • Politics
  • 14 May 2025
Abu Obaida

Abu Obeida posts shortly after Israeli reports about his assassination

  • Palestine
  • 15 May 2025
YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
A 3D render of China's planned 'drone mothership' Credit: X/@XH_Lee23
US & Canada

China unveils drone mothership capable of swarm attacks

Half of UK youth would give up the internet: Survey
Technology

Half of UK youth would give up the internet: Survey

Secretary of State Marco Rubio, speaks to the media during a meeting with President of the Conference of Italian Bishops, Cardinal Matteo Zuppi at the U.S. Embassy to the Holy See in Rome, Saturday, May 17, 2025. (AP Photo/Gregorio Borgia)
Politics

Trump focused on peace while Europe pushes for war: Rubio

Hungarian Prime Minister Viktor Orban, left, and Israeli Prime Minister Benjamin Netanyahu shake hands after a press statement at the Carmelite Monastery in the Buda Castle in Budapest, Hungary, April 3, 2025 (AP/Denes Erdos)
Europe

Hungary votes to begin withdrawal from International Criminal Court

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS