Hungarian-Russian Economic Relations

Veronika Jóźwiak
Content Type
Special Report
The Polish Institute of International Affairs
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.
Energy Policy, Bilateral Relations, Sanctions, European Union, Trade
Political Geography
Russia, Europe, Eurasia, Hungary