Oil Prices Hit 5-Month Highs
In the oil market, the upward trend continues at the beginning of the new week, with prices rising to nearly 5-month highs due to increasing geopolitical risks related to supply disruptions
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Hungarian Prime Minister Viktor Orban believes that Europe has weakened in the last year because the administration of US President Joe Biden "protects its interests in Brussels to the detriment of European interests". According to him, the consequences of EU sanctions against Russia have begun to weaken the European economy, but have not affected the USA, which is "rich in cheap gas".
Orban, quoted by “Magyar Nemzet”, said that during the conflict, Europe lost its independence and its economic and military strength began to weaken because "no one took care" to restore the reserves of the European army.
Viktor Orban specified that the Hungarian government discussed Hungary's attitude to the Ukrainian conflict. As a result of the talks, the government has decided to be guided solely by the interests of its own security. "We will not supply weapons, we will not join any military coalition," he explained.
According to Orban, "there will be no winners" in the conflict in Ukraine. "Russia cannot win because the entire Western world supports Ukraine. But Russia is a nuclear power, and a nuclear power cannot be backed into a corner because a nuclear war can start," concluded the prime minister.
Hungary takes a neutral position regarding the Russian-Ukrainian conflict. Last summer, it blocked for several weeks the adoption of an embargo on Russian oil in the European Union. The country managed to secure an exemption for itself and will buy Russian oil until 2024. The country's foreign minister, Peter Szijjártó, also called on the West to keep communication channels open with Russia. He stated that the sanctions against Russia "have failed because the military actions in Ukraine continue and the economic situation in Europe is deteriorating".
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