Brussels Incapable Of Protecting European Interests - Hungarian Foreign Minister

Muhammad Irfan Published May 26, 2023 | 02:00 AM

BUDAPEST (UrduPoint News / Sputnik - 26th May, 2023) Europe needs to introduce preferential measures for European companies similar to those brought in by the United States to support the economy, but Brussels is incapable of protecting European interests, Hungarian Foreign Minister Peter Szijjarto said on Thursday.

"The Americans have not taken any steps back in relation to the measures (listed in) the inflation reduction act, which clearly discriminate against European companies. Obviously, it was the function of the law to give American companies preferences before European ones. No need to be surprised or delude ourselves that Ms. Von der Leyen would go to Washington and make it so that such things never happen anymore � these are very naive illusions," Szijjarto told a briefing.

The minister added that Europe needs to introduce similar patriotic measures that would promote European economy and rules that would "give European companies preferences here in Europe just like they did in America to protect their economy.

"However, it is clear for now that Brussels and the European Commission are not ready to (do) that," he said.� �

�Szijjarto pointed out that in response to the economic crisis, the US took protectionist measures, and the EU imposed sanctions on Russia. He noted that both actions "have one thing in common, and that thing is that they harm the European economy."

Hungarian Prime Minister Viktor Orban said previously that Europe is in a losing position after giving up cheap Russian energy in favor of the US as it now has to pay five times more.

Western countries stepped up sanctions pressure on Moscow after the start of the Russian special military operation in Ukraine in February 2022. The EU has since imposed ten packages of sanctions against Russia. Russian President Vladimir Putin has said the policy of containing and weakening Russia is the West's long-term strategy, and the restrictions have affected the entire global economy.�