The sanctions are already causing a serious loss to Hungary's economy, Hungarian Finance Minister Mihaly Varga said.

The Hungarian forint has fallen victim to the sanctions imposed by Brussels, Hungarian Finance Minister Mihaly Varga said in a video posted on social media, adding that the sanctions are already causing a serious loss to Hungary’s economy.

The biggest threat to the forint and the Hungarian people is the possible extension of the sanctions to the energy sector, he said, adding that those calling for that extension want to make Hungarian people pay the price of war. The Hungarian government will not support such a move in any international forum, the minister said.