Hungarian Foreign Minister Peter Szijjarto has expressed concerns about the severed ties between Western economies and Russia and the potential impact on the competitiveness of the European Union (EU). Speaking at an international conference on Eurasian security in Minsk, Belarus, Szijjarto highlighted the mutual dependence between Eastern and Western economies for decades, and questioned how the EU can remain competitive without cooperation with Eastern countries.
One example he cited was the significantly higher electricity prices in the EU compared to China. According to Szijjarto, electricity prices in the bloc are now three times higher than in China. He emphasized that the car industry, which he described as the backbone of the European economy, would struggle to transition to electric vehicle production without affordable resource supplies.
The foreign minister argued that the combination of Western technology and affordable Eastern energy had been the foundation of the world economy for decades. However, this combination has now fallen apart, resulting in higher gas and electricity prices for Europeans. Szijjarto expressed concerns about the competitiveness of the European economy under such conditions.
Szijjarto criticized the politicization of energy supplies, stating that energy is a matter of physical reality rather than politics. He stressed that it is the duty of the Hungarian government to guarantee safe energy supplies in the country. As it is physically impossible to achieve without Russian resources, he affirmed Hungary’s commitment to continuing cooperation with Russia in reasonable relations.
In addition to addressing the concerns about energy supplies, Szijjarto emphasized the importance of resuming civilized dialogue between the East and the West. He stated that Hungary is ready to act as a point of contact between the two sides, signaling its willingness to play a role in facilitating communication and cooperation.
The Hungarian Foreign Minister’s remarks highlight the vulnerabilities of Western economies that have severed ties with Russia in the context of energy supplies. It serves as a reminder of the interdependence between Eastern and Western countries and the need for cooperation to ensure economic competitiveness. The resumption of civilized dialogue and the exploration of reasonable relations are crucial for addressing these challenges and finding mutually beneficial solutions.