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
The Popular Resistance Committees: We call on all international institutions to take urgent action and uphold their responsibilities by restoring and immediately enforcing effective mechanisms for the distribution of humanitarian aid.
The Popular Resistance Committees: The latest Zio-American crime against Gaza’s starving civilians constitutes a war crime, for which the US administration bears full and direct responsibility.
Gaza Media Office: Bloody spectacle shows that these zones have become collective death traps rather than aid distribution zones.
Gaza Media Office: Dozens of citizens are still surrounded under constant fire in the vicinity of the "aid station."
Gaza Media Office: As soon as citizens arrived, occupation and Americans opened direct fire on them.
Gaza Media Office: Occupation, in complicity with the US company, called on citizens to move toward Wadi Gaza Bridge, claiming that aid would be distributed.
Gaza Government Media Office: Occupation set a bloody trap at bridge of Wadi Gaza, luring thousands of starved civilians, and opened fire on them.
Al Mayadeen's correspondent in South Lebanon: Israeli drone drops sonic grenade in town of Ramiyah.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strike targets vehicle in town of Beit Lif.
The Government Media Office in Gaza: The occupation’s latest crime is further evidence of its ongoing implementation of genocide through starvation.

All of Europe does business with Russia: Hungary

  • By Al Mayadeen English
  • Source: Agencies
  • 21 Sep 2024 15:47
  • 2 Shares
3 Min Read

Hungarian Foreign Minister Peter Szijjarto states that economic cooperation between the EU and Moscow continues despite the sanctions.

Listen
  • x
  • Hungary's Foreign Minister Peter Szijjarto grimaces during a joint press conference in Bucharest, Romania, on September 3, 2024. (AP)
    Hungary's Foreign Minister Peter Szijjarto grimaces during a joint press conference in Bucharest, Romania, on September 3, 2024. (AP)

Hungarian Foreign Minister Peter Szijjarto has stated that many companies within the EU continue to quietly conduct business with Russia, despite the sanctions imposed by the bloc.

“Here I would like to disappoint the idealists, as the situation is that everyone in Europe is doing this,” Szijjarto said in Budapest on Friday. 

"The difference between us and the others in general is that we speak honestly and openly about this issue. All of Europe does business with the Russians, but some deny this; we don’t need that,” he said. 

Szijjarto added that although Hungary doesn't agree with the sanctions, it respects them as part of EU policy. However, he emphasized that Hungary often vetoes specific EU proposals when they significantly harm its national interests, with economic cooperation with Russia being one such priority.

The EU first imposed sanctions on Moscow in 2014, expanding them significantly after the escalation of the Ukraine war in 2022. These sanctions primarily target key sectors of the Russian economy, including energy, finance, and trade.

Hungary has long been at odds with the EU over its approach to the war in Ukraine and its sanctions policy towards Moscow. This ongoing disagreement complicates the EU's ability to reach consensus on new restrictions, according to an August report by Euractiv, which cited diplomatic sources.

Related News

Hungary to block EU ban on Russian energy, Orban says

Russia prepares Ukraine peace memo addressing war’s root causes

Experts in Russia and the West have cautioned that unilateral sanctions could potentially inflict more damage on the countries implementing them than on Russia itself.

EU officials have also admitted that Moscow has been successful in circumventing the imposed restrictions. In June, data from the Russian Finance Ministry revealed that the country's budget revenues from oil and gas surged by 73.5% between January and May this year, compared to the same period in 2023.

More harm on EU than Russia 

Western sanctions imposed on Russia have yielded results opposite their intended goal, Russian billionaire Alisher Usmanov said on August 24, 2024. 

The metals tycoon highlighted that the sanctions, which were imposed since the start of the Russian-Ukraine war in February 2022, have caused more harm to the European Union than to Moscow.

"They wanted to harm the Russian economy, and here it is growing. They wanted to punish the business elite, and the Russians brought the money back home. The Russian economy is adapting to the sanctions, while neighboring markets are suffering. Europe rejects Russian energy resources and is forced to buy them at a much higher price," Usmanov told the newspaper.

Despite economic sanctions implemented by Ukraine's Western allies, Russia’s economy expanded by 3.6% last year while Germany underwent a recession. Additionally, France and Italy had recorded an economic growth of under 1%.

The sanctions imposed in September 2022 on the Nord Stream pipeline led to a significant drop in Russian gas supplies to the EU, resulting in the bloc purchasing US liquified natural gas (LNG) which is estimated to be 30-40% more expensive.

  • Hungary
  • EU sanctions on Russia
  • Peter Szijjarto
  • Russia
  • Sanctions on Russia
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

President Donald Trump and Israeli Prime Minister Benjamin Netanyahu arrive to a news conference in the East Room of the White House, Tuesday, Feb. 4, 2025, in Washington (AP)

Rift widens: Trump, Netanyahu clash in heated phone call over Iran

  • Politics
  • 26 May 2025
US judges quietly consider private security amid Trump tensions

US judges quietly consider private security amid Trump pressures

  • US & Canada
  • 25 May 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025

Coverage

All
War on Gaza

Read Next

All
MIT bans class president who gave pro-Palestine speech
US & Canada

MIT bans class president over pro-Palestine speech

Arab ministers condemn Israel 'ban' on planned West Bank visit
Politics

Arab ministers condemn Israeli ban on planned West Bank visit

Major General Hu Gangfeng, Vice President, National Defense University, People's Liberation Army, China, leaves after a panel discussion during the 22nd Shangri-La Dialogue summit in Singapore, Saturday, May 31, 2025. (AP Photo/Anupam Nath)
Politics

China blasts Hegseth, calls US top 'troublemaker' in Asia-Pacific

US activists demand shutdown of Musk's 'dirty' supercomputer: Reports
Technology

US activists demand shutdown of Musk's 'dirty' supercomputer: NBC News

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