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HUNGARY: Foreign Min-EU Sanctions On Russia 'Simply Not Working'

HUNGARY
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Wires carrying comments from Foreign Minister Peter Szijjarto regarding Hungary-Russia relations and sanctions. Says that 'We do not agree with EU sanctions and in areas not affected by the sanctions our interest is to develop economic cooperation with Russia'. Adds the view that EU sanctions on Russia are "simply not working." 

  • Szijjarto: The Russian delegation has assured us that Moscow is committed to agreements that are essential for Hungary's energy supply. Says Russian gas shipments to Hungary YTD amounted to 5.3bcm via Turkstream. Claims 'we have reached new milestones regarding the expansion of the Paks nuclear power plant.'
  • FM is speaking at a Hungarian-Russian business forum. Also due to speak is Russian Health Minister Mikhail Murashko. This marks an extremely rare visit for a sitting Russian cabinet minister to an EU and NATO member state.
  • The timing of Szijjarto's comments is notable, given that European Commission President Ursula von der Leyen is presently in Kyiv outlining the massive EUR35bn loan Brussels is planning to provide to Ukraine (see 'UKRAINE: Zelenskyy-EUR35bn Loan To Fund Air Defence, Energy & Weapon Purchases', 1139BST).
  • Laurence Norman at WSJ notes the difficulty Budapest may have with opposing the loan plan: "The political beauty of the Ukraine loan structure [...] is not only that Hungary doesn’t need to approve it. As I read it, it also creates an incentive for Hungary to keep the sanctions on Russia frozen assets so the EU budget isn’t left with deficit."
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Wires carrying comments from Foreign Minister Peter Szijjarto regarding Hungary-Russia relations and sanctions. Says that 'We do not agree with EU sanctions and in areas not affected by the sanctions our interest is to develop economic cooperation with Russia'. Adds the view that EU sanctions on Russia are "simply not working." 

  • Szijjarto: The Russian delegation has assured us that Moscow is committed to agreements that are essential for Hungary's energy supply. Says Russian gas shipments to Hungary YTD amounted to 5.3bcm via Turkstream. Claims 'we have reached new milestones regarding the expansion of the Paks nuclear power plant.'
  • FM is speaking at a Hungarian-Russian business forum. Also due to speak is Russian Health Minister Mikhail Murashko. This marks an extremely rare visit for a sitting Russian cabinet minister to an EU and NATO member state.
  • The timing of Szijjarto's comments is notable, given that European Commission President Ursula von der Leyen is presently in Kyiv outlining the massive EUR35bn loan Brussels is planning to provide to Ukraine (see 'UKRAINE: Zelenskyy-EUR35bn Loan To Fund Air Defence, Energy & Weapon Purchases', 1139BST).
  • Laurence Norman at WSJ notes the difficulty Budapest may have with opposing the loan plan: "The political beauty of the Ukraine loan structure [...] is not only that Hungary doesn’t need to approve it. As I read it, it also creates an incentive for Hungary to keep the sanctions on Russia frozen assets so the EU budget isn’t left with deficit."