Hungarian firms forced to leave Russia – envoy

Hungarian businesses have been forced out of Russia due to pressure from elsewhere, despite demonstrating a pragmatic approach to working in the country, according to Moscow’s ambassador to Budapest, Evgeny Stanislavov. 

“For foreign companies, including Hungarian firms, Russia’s profitable markets remain attractive despite difficulties in logistics and other problems caused by sanctions,” the envoy told RIA Novosoti an interview published on Thursday. 

Earlier this month, Hungarian Foreign Minister Peter Szijjarto said that companies from his country that continue to do business in Russia were facing discrimination in Ukraine. He accused the authorities in Kiev of banning the sale of medication produced by Hungarian pharmaceutical firms Gedeon Richter and Egis, and of calling for a boycott of energy company MOL. 

Stanislavov urged the Ukrainian government to focus on developing the appeal of its market to foreign investors, as “Kiev’s escalation of the military conflict obviously damages it,” according to the diplomat.