Moscow - Budapest: Agencies
Hungarian Foreign Minister Peter Szijjarto announced that the whole of Europe continues to trade with Russia, but only Hungary does so openly.
Szijjarto said after the meeting of the 15th Russian-Hungarian government commission on economic issues: "Sanctions do not work because a large part of European companies find a way to maintain economic cooperation with Russia. I would like to point out that the whole of Europe trades with Russia, some deny it, but we have no need to hide our dealings. The difference is that we discuss this issue honestly and openly."
He pointed out that Hungarian companies will never have to deny that they are looking for Russian economic partners, because this is "not a shortcoming" in their country.
Szijjarto considered last August that EU members were hypocrites when they criticized Budapest for buying oil from Moscow, because they themselves do the same thing, but "hidden and hypocritically." According to the Cairo-based Youm7 website, data from the European Statistical Authority indicate that the volume of trade exchange between Russia and the European Union increased in July for the first time since November last year.

According to the available data, bilateral trade began to grow again in mid-summer, after seven months of decline, and increased by 23% over the course of the mentioned month - to reach 6.03 billion euros. This was the highest value since January of this year, when it reached 6.09 billion euros.

Russia increased its exports of goods by 21% to 3 billion euros, while the European Union increased its exports by 24.5% to 3.03 billion euros.