Hungary warned of a possible economic collapse in Europe due to sanctions against Russia

Published at: 09/03/2026 12:38 PM

This Monday, the Minister of Foreign Affairs and Foreign Economic Relations of Hungary, Peter Szijjarto, reiterated his warning about the economic collapse of the (EU) as a result of the sanctions imposed against Russia.

“If Brussels does not lift the ban (...), if it does not cancel the sanctions, this will inflict an extremely profound blow to the European economy. As energy prices rise, so do the prices of everything else,” he said in a video released on social media.

He insisted that the price increase in Europe could be of such magnitude that it would totally destroy the European economy and would create enormous difficulties for Europeans.

He also pointed out that the escalation of the conflict in the Middle East increased the oil deficit in Europe, which is also facing a serious energy crisis almost at the limit of its gas reserves.

Mazo News Team