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Free AccessMinister Questions Russia Sanctions, Likely To Raise Concerns At EU
In comments that are likely to cause some alarm in Brussels, Hungarian Cabinet Office Minister Gergely Gulyás reported as saying that a removal of EU sanctions on Russia would assist in lowering inflationary pressures.
- Sandor Zsiros at Euronews has the comments: "Hungary criticizes the European Commission's price cap plans on Russian gas: "It makes no sense to talk about price cap if Europe is not self-sufficient. It will just result more gas shortages and more trouble" - minister Gulyás said."
- "Hungarian government's cabinet minister Gergely Gulyás: "If the EU would withdraw its sanctions against Russia tomorrow, inflation and energy prices would be halved"."
- Such a negative comment regarding the impact of sanctions on Russia from a close aide of PM Viktor Orban is likely to attract attention in Brussels. Tomorrow, EU energy ministers are due to meet to discuss potential options for mitigating the impact of price spikes and energy shortages. Budapest already seen as most likely weak link in EU's sanctions regime, these comments unlikely to alter that perception.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.