Russian Oil and Gas Ban Could Devastate EU Economy: Szijjártó

The Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, has stated that adherence to energy restrictions imposed on Russia can have serious effects on the European economy. He noted that if the ban on importing Russian oil and gas continues, the rising prices of energy carriers will further deepen the economic pressure on European countries.

Szijjártó made these remarks in a video message posted on social media, emphasizing that the restrictions set by Brussels, if not revised, could significantly impact the European economy. According to the minister, the increase in energy prices directly affects the cost of other goods and services.

He mentioned that the rise in energy prices has a cascading effect on various sectors of the economy, as much of production and services are dependent on energy costs. For this reason, price increases spread to almost all areas.

Szijjártó also indicated that if Europe does not reassess its policy regarding the import of Russian energy carriers, the price increase could reach a level that would create serious economic difficulties for the residents of European countries.