Hungarian PM calls for revision of anti-Russian sanctions to strengthen EU economy

BRUSSELS. Nov 15 (Interfax) - European Union countries should reconsider their stance on anti-Russian sanctions in order to make the EU more competitive, Hungarian Prime Minister Viktor Orban said.

"Energy prices need to be lowered by all means. This means that sanctions need to be reconsidered because under the current sanctions policy, energy prices will not go lower," Western media on Friday quoted Orban as saying in an interview with a Hungarian radio station.

The growth of electricity prices will stand in the way of efforts to boost the EU's competitiveness, he said. EU companies' gas and electricity bills are four times higher than those of U.S. companies, he said.

The heads of state and government of EU countries adopted a declaration on the need to strengthen the EU's competitiveness at an informal summit in Budapest last week.