NDTV News

NDTV.com provides latest news from India and the world. Get today’s news headlines from Business, Technology, Bollywood, Cricket, videos, photos, live news coverage and exclusive breaking news from India.

https://www.ndtv.com/

At EU Summit, Hungary Says West Must Stop Adding Sanctions On Russia.

At EU Summit, Hungary Says West Must Stop Adding Sanctions On Russia

Hungary said that negotiation is the better option instead of adding more sanctions on Russia.

Brussels:

The European Union should stop adding sanctions on Russia over its invasion of Ukraine and instead push for a ceasefire and the start of negotiations, a senior aide to Hungarian Prime Minister Viktor Orban said on Thursday.

Speaking on the sidelines of a summit of EU leaders which granted Ukraine the status of a candidate to become a member of the EU, the aide said the more sanctions the EU adopted the more they hurt the bloc, while Russia survived.

"At the end of the day Europe will be on the losing side of this war because of the economic problems. Our recommendation would bee that we should stop the sanction process," Balazs Orban, not related to the prime minister, told Reuters in an interview.

Hungary is one of the most pro-Russian EU countries, heavily dependent on Russian gas and oil. Russia is also building a nuclear reactor for Hungary. Budapest had held up the latest package of sanctions against Moscow that included a ban on Russian oil imports until it negotiated an exemption for itself.

"Right now what we experience is that the more sanctions we accept, the worse shape we are in. And the Russians? Yes, it hurts them as well, but they survive. And what is even worse, they proceed in Ukraine," Balazs Orban said.

Since the start of the Russian invasion of Ukraine on Feb. 24, the 27-nation European Union has agreed on six packages of sanctions that include asset freezes and visa bans on Russian oligarchs and officials, export controls, freezing central bank assets, disconnecting banks from the SWIFT messaging system and a ban on imports of Russian coal and oil.

But some officials argue that individual oligarchs can live without some of their yachts or Western villas, have probably already moved liquid assets outside the EU and export controls might be circumvented by China and others.

The freeze on the Russian central bank reserves is made less painful by the billions of dollars Russia gets every day for its oil and gas still flowing to Europe, they say. Once the EU stops buying Russian oil next year, the crude can be sold and shipped by tankers to China or India, some officials say.

Others argue the sanctions are working, but it will take time before their full impact on the Russian economy shows.

Orban, however, said the EU should change its tactics.

"We reached a point when we realise that we followed the strategy for four months, we have some achievements, but if it continues like this, according to reasonable thinking, it will end up in a bad way for Europe. So we have to think about something. Negotiations, ceasefire, peace. Diplomacy. That's our solution," Orban said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Останні новини
Glenn Youngkin calls out leftist policies on guns, crime.

Glenn Youngkin calls out leftist policies on guns, crime.

Republican Virginia Gov. Glenn Youngkin sounds off on progressive policies on crime, Second Amendment rights and protests at Supreme Court justices’ homes on ‘One Nation.’ #FoxNews #OneNation Subscribe to Fox News! Watch more Fox News Video: Watch...

Nightly News Full Broadcast - June 25

Nightly News Full Broadcast - June 25

Protests erupt for second straight day after Supreme Court voted to overturn Roe v Wade, How abortion access has changed already in many states, President Biden heads to Germany while Americans respond to Roe v Wade being overturned. » Subscribe t...

1 100

Supreme Court strikes down New York's gun law, what's next?.

Supreme Court strikes down New York's gun law, what's next?.

Former state Sen. David Carlucci, D-N.Y., joins 'The Rebuttal' on 'Unfiltered with Dan Bongino' to weigh in on President Biden's proposed federal gas tax break and the Supreme Court's ruling on New York's gun law. #FoxNews #Fox Subscribe to Fox Ne...

Pro-life centers in danger amid Roe protests

Pro-life centers in danger amid Roe protests

Mountain Area Pregnancy Services executive director Kristi Brown weighs in on her crisis pregnancy center being vandalized in the lead-up to the Supreme Court's ruling on abortion on 'Lawrence Jones Cross Country.' #foxnews Subscribe to Fox News! ...

1 23

Biden and the Democratic Party are against US energy independence: GOP lawmaker.

Biden and the Democratic Party are against US energy independence: GOP lawmaker.

New York Rep. Lee Zeldin weighs in on President Biden's fossil fuel policies impact on Americans and reacts to the Supreme Court's ruling on New York's gun law on 'Unfiltered with Dan Bongino.' #FoxNews #Fox Subscribe to Fox News! Watch more Fox N...

2 34

This is out of control: Blue Lives Matter-NYC founder.

This is out of control: Blue Lives Matter-NYC founder.

Blue Lives Matter-NYC founder Joseph Imperatrice reacts to progressive policies on skyrocketing crime and calls for no politics in law enforcement on ‘Unfiltered.’ #FoxNews #Unfiltered Subscribe to Fox News! Watch more Fox News Video: Watch Fox Ne...