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Russia might ease sanctions on Hungary

Wednesday, March 4, 2015

Russia is looking at ways to ease sanctions on Hungary and Greece on their own requests reported RIA Novosti Russian News Agency. Russia imposed food embargo in August last year against the European Union member states.

Russian Minister of Economic Development Alexei Uljukajev said this in Milan, Italy where he met local business representatives.

Hungary and Greece have asked Russia to lift the embargo against them said the minister. In this regard, the Russian official stressed that "a solution must be found, which is not inconsistent with the World Trade Organization (WTO) rules. To make certain exceptions to the rules contradicts WTO regulations."

But a solution must be found, which would allow these countries to bypass sanctions; like for instance, allowing companies to process borrowed raw materials, which in turn would let them have access to the Russian market without violating WTO rules. We are now examining the feasibility of this option. We have already received oral requests from these countries, but I haven't seen written requests so far said the Russian minister.

(MTI – hungarianambiance.com)

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