EU needs to rethink Russian sanctions to cut energy costs, Hungary's Orban says

The European Union needs to reconsider sanctions against Russia as they are keeping energy prices elevated, hindering the bloc's economic competitiveness, Hungarian Prime Minister Viktor Orban said.

"Energy prices need to be lowered by all means. This means that sanctions need to be reconsidered because under the current sanctions policy, energy prices will not go lower," Orban said in an interview.

Orban said U.S. companies pay a quarter of the amount their European counterparts spend on gas and electricity, a disadvantage that could not be overcome by other means.

Since Russia invaded Ukraine in early 2022, Orban has emerged as a vocal critic of EU sanctions against Moscow and the bloc's financial and military support for its neighbour.

Source: Reuters