Negative effects of anti-Russian sanctions on Hungary’s economy

Abstract

The article considers the influence of introduction of Russian counter-sanctions on food imports from a number of states on the economies of Russia and foreign countries. The author analyzes the case of Hungary and notes that suspension of realization of several Russian-Hungarian joint projects in Hungary affects the economic and social life of the country. In the article, the consequences for the development of Russian-Hungarian trade and economic relations are assessed. In particular, the decrease in the level of Hungarian food exports to Russia is stressed. Finally, the author points out some promising directions for bilateral cooperation that will ensure the growth of trade in the future.