BUDAPEST, Hungary — Hungarian Prime Minister Viktor Orbán expressed on state radio on Friday that the European Union needs to reconsider its sanctions against Russia due to the potential economic repercussions they may have on member states. He emphasized that the ongoing economic tensions could lead to a collapse if the EU maintains its current stance against Moscow amid the ongoing conflict in Ukraine.

Since the full-scale invasion of Ukraine launched by President Vladimir Putin in 2022, the EU has implemented multiple rounds of sanctions targeting various sectors, including energy, banking, and even major businesses like the largest diamond mining company globally. Orbán, known for his friendly ties with the Kremlin, diverges from most European leaders by opposing these sanctions. He argues that they are more damaging to European economies than to Russia’s.

During his remarks, Orbán highlighted the need for a reassessment of the EU’s sanction strategy, stating that these measures prevent energy prices from decreasing. He noted that while those in favor of the sanctions may face economic hardship, Hungary would consider it a triumph as the situation necessitates a shift in approach to prevent further harm to the European economy.

As Hungary currently holds the rotating presidency of the EU for a six-month term, it has taken a softer stance toward punitive measures against Russia. However, the leaders of the EU are reportedly gearing up to implement additional sanctions. Recently, the European Parliament passed a resolution urging stronger actions against Russia’s so-called “shadow fleet,” which is believed to facilitate oil exports in defiance of existing sanctions. The parliament also seeks a ban on the import of Russian fossil fuels.

Orbán has voiced strong opposition to such import bans and has previously secured exemptions to ensure Hungary’s continued import of Russian oil and gas, which he claims are vital for the nation’s economic stability.

Last week, Orbán predicted that Donald Trump, the President-elect in the United States, would withdraw support for Ukraine in its conflict with Russia. He believes that a Trump administration would breathe new life into Hungary’s struggling economy, which is currently in a technical recession. “The pro-peace presidential candidate has emerged victorious, and now we are looking forward to peace,” he stated on Friday.