He told an informal meeting of EU trade ministers that it would be extremely damaging to override economic realities with political considerations and that the focus should instead be on building mutually beneficial relations.
According to Szijjártó, Europe is one of the losers in the global economic process of recent years, at a time when a new era was taking shape, with three important fundamentals that are painfully affecting the continent.
First, in the electric car industry, Western firms have become dependent on Eastern actors, as illustrated by the fact that seven of the ten largest electric battery manufacturers are Chinese and three are South Korean.
Second, the European Union has "effectively shot itself in the foot and then in the lungs" with sanctions, as the restrictions are hitting the European economy much harder than the Russian economy due to high inflation.
Finally, the US is taking advantage of the war situation and draining investment from the European economy.
