Ukraine’s Foreign Ministry responds with figures to Hungary's statements that sanctions "harm not Russia, but EU"

The Ukrainian Foreign Ministry has responded with official figures to the recent statements by the Hungarian Foreign Minister, who complained that European sanctions against Russia are more harmful to Europe itself than to the Russian economy.

Source: European Pravda, citing Oleh Nikolenko, the Spokesperson for the Ministry of Foreign Affairs of Ukraine

He provided data from the EU Council, the World Bank and the IMF that demonstrated the real effect of sanctions on Russia. According to these figures, Russia's GDP has decreased by 5.5-9%, trade volumes have decreased by 30-35%, inflation has reached 22%, about 1000 foreign companies, which accounted for 40% of GDP, have left the country, and oil imports to the EU will decrease by 90% by the end of the year. In addition, the Russian Federation cannot openly import many technologies and components and is forced to reduce production.

"The Russian economy has been rolled back 30 years. Statements that European sanctions do not affect the Russian economy are not true. No matter how hard Moscow or Budapest try to downplay the effectiveness of Brussels' decisions, the sanctions are working and limiting Russia's ability to finance the war against Ukraine. So who should resign: those who defend peace and security in Europe or those who undermine the EU's efforts to counter Russia's aggression?" sums up Oleh Nikolenko.

By way of reminder: Hungarian Foreign Minister Péter Szijjártó once again criticised EU sanctions against Russia and said that the leaders who supported them should resign.

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