Hungary worried about further Russian sanctions

EU

If Russia decides on new sanctions and stops importing industrial goods from the EU, Hungary will be affected, National Economy Minister Mihály Varga said today on Hungarian public channel Kossuth Rádió.

Russian ban on agricultural products from the EU already costs Hungary an estimated HUF 70 mln per day. Russia could extend its ban on manufactured goods such as cars and pharmaceutical drugs, which would have a negative effect for Hungary, the Minister said. Sanctions on vehicle-industry imports from the EU could have an indirect impact on the Hungarian economy via Germany, which operates several vehicle-manufacturing units in Hungary, noted Varga.

ADVERTISEMENT

Budapest Named 5th Best City in Europe for Bargain Lovers Analysis

Budapest Named 5th Best City in Europe for Bargain Lovers

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

Muni Council Organizing Meeting to Improve Air Quality City

Muni Council Organizing Meeting to Improve Air Quality

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.