Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Hungary: Sanctions on Russia hurt West more
Diplomacy » Eastern European country fears sanctions will kill its food exports, nuke plans.
First Published Aug 15 2014 09:51 am • Last Updated Aug 15 2014 09:51 am

Budapest • Hungary’s prime minister said the West is "shooting itself in the foot" with inadequately thought through economic sanctions against Russia.

Prime Minister Viktor Orban said Friday that the European Union’s sanctions policy needed to be reassessed and that Russia’s response was hurting Hungary’s export-based economy. Orban said he was looking for allies within the bloc to change the policy.

Join the Discussion
Post a Comment

Hungary has warned that its agricultural sector will incur annual losses of $107 million as a result of Russia’s retaliatory measures that ban food imports from those countries that have imposed sanctions. Orban said EU compensation was needed to cover the shortfall.

In January, Hungary signed a deal for Russia to build two reactors at the country’s only nuclear power plant in the southern city of Paks. Russia will give Hungary a loan of up to $13.4 billion, or around 80 percent of construction costs.

Orban said a summit meeting between the EU and Russia was needed to discuss their future cooperation and long-term relationship on "strategic, economic and territorial issues." He also said his country "defends the territorial integrity of Ukraine and considers it necessary,"

Hungary was one of the fastest-growing economies in the EU during the second quarter, when it saw output increase by 0.8 percent on a quarterly basis.




Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.