London Daily

Focus on the big picture.
Tuesday, Jul 15, 2025

No more EU sanctions on Russia needed, negotiations better option -Hungary

No more EU sanctions on Russia needed, negotiations better option -Hungary

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.
Newsletter

Related Articles

0:00
0:00
Close
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
×