Hungarian-Russian Economic Relations
Hungarian-Russian Economic Relations

Author(s): Veronika Jóźwiak
Subject(s): Governance, Economic policy, International relations/trade, Economic development
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Hungary; Russian Federation; economic cooperation; Hungarian-Russian relations; bilateral trade;
Summary/Abstract: Hungarian-Russian economic relations are based on the energy industry. Hungary’s efforts to build closer political relations with Russia after 2010 did not result in a marked increase in bilateral trade, investment, or greater Russian influence outside the energy sector. EU economic sanctions imposed on Russia and the introduction of counter-sanctions in 2014 caused a significant drop in Hungarian exports to Russia. However, this has not resulted in substantial losses to the Hungarian economy.

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