Hungarian Prime Minister Victor Orbán warned on Friday that European policies advocating for mass joint borrowing among EU member states to continue funding Ukraine’s resistance to the Russian invasion will have devastating consequences.
The Hungarian leader told “Good morning, Hungary!” that EU sanctions on Russian energy are bound to fail, and that “not only our children, but also our grandchildren will suffer the consequences” of a mass borrowing scheme proposed by the EU, adding that potentially insolvent states will require support as well.
Orban reiterated Hungary’s opposition, and suggested that agreements to support Ukraine should be at the national level via bilateral agreements between individual countries, ReMix reports.
He highlighted that Ukraine has now found itself in a situation whereby it is incapable of functioning as an independent nation because of the ongoing conflict, and while it needs help from its neighbors and allies in the short-term, it is not for Brussels to speak on behalf of all member states.
What’s more, Orban believes that any further sanctions on Russian gas or nuclear energy would have “tragic consequences,” and argued that Hungary should be exempt from such a decision.
“We are facing a difficult winter, Ukraine is in an increasingly difficult situation, Russia is suffering difficulties, but its revenues from energy carriers are at their peak, so the policy of sanctions has not achieved its goal,” he said, explaining that while Hungary won’t be subject to an upcoming ban on European imports of Russian oil, it will still be affected by the “price-inflating effect of the sanctions.”
“We have always achieved our own national goals in the negotiations on sanctions, so we are participating in the discussion of the ninth package with good hopes,” Orban concluded, while noting that the “pressure is constant,” and that Hungary must “constantly fight to protect our interests.”