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.

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