Csaba Weiner<\/a><\/p>\nIn: \u0412\u0438\u0448\u0435\u0433\u0440\u0430\u0434\u0441\u043a\u0430\u044f \u0415\u0432\u0440\u043e\u043f\u0430<\/em> [Visegrad Europe], 4(2), 24-33. (2022)<\/p>\n <\/p>\n
Abstract<\/h2>\n
This article assesses how Russia\u2019s 2022 military operation in Ukraine has impacted Hungarian companies investing in Russia, and how they have adjusted to this new reality. The paper first briefly describes Russia\u2019s role in outward foreign direct investment (FDI) from Hungary and the main Hungarian-based FDI-investing companies and their subsidiaries in Russia. It then examines the difficulties Hungarian business is facing in the Russian market, and, through short case studies, how the three leading Hungarian players \u2013 the OTP Group in the banking sector, the pharmaceutical company Richter, and the oil and gas firm MOL \u2013 have reacted to such challenges. The paper finds that Hungarian firms typically try to hold their ground in the Russian market. They are attempting to overcome difficulties such as risks of foreign exchange and non-payment, issues with logistics and supply chain disruptions, problems with banking and financial transactions, increased time and costs of international shipping due to altered routing, additional administrative burdens at the border, air travel restrictions, and a constant need for information to adapt to Western sanctions and Russian countermeasures. It is uncertain whether the generally positive attitude of Hungarian firms towards staying (and even taking advantage of the situation to expand further) will change over time. The challenges may become too great to take on, not only for smaller, resource-poor, and less-experienced firms, but also for stronger enterprises. Each of the three largest Hungarian-based FDI investors in Russia is taking a different approach to the situation, but they are standing their ground, despite sanctions, countermeasures, and outside political pressure to discontinue business with Russia.<\/p>\n","protected":false},"excerpt":{"rendered":"
In: \u0412\u0438\u0448\u0435\u0433\u0440\u0430\u0434\u0441\u043a\u0430\u044f \u0415\u0432\u0440\u043e\u043f\u0430 [Visegrad Europe], 4(2), 24-33. (2022)<\/p>\n","protected":false},"featured_media":8841,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"_links_to":"","_links_to_target":""},"categories":[104,100],"tags":[],"class_list":["post-8843","publikacio","type-publikacio","status-publish","has-post-thumbnail","hentry","category-external-publications","category-publications"],"acf":[],"yoast_head":"\n
Weiner, Cs.: \u0412\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439 \u0431\u0438\u0437\u043d\u0435\u0441 \u0432 \u0420\u043e\u0441\u0441\u0438\u0438 \u0432 \u0443\u0441\u043b\u043e\u0432\u0438\u044f\u0445 \u0441\u0430\u043d\u043a\u0446\u0438\u0439 \u0438 \u043a\u043e\u043d\u0442\u0440\u043c\u0435\u0440 2022 \u0433\u043e\u0434\u0430: \u043e\u043f\u044b\u0442 \u043f\u0435\u0440\u0432\u044b\u0445 \u0448\u0435\u0441\u0442\u0438 \u043c\u0435\u0441\u044f\u0446\u0435\u0432 - VGI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-\u0432\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439-\u0431\u0438\u0437\u043d\u0435\u0441-\u0432-\u0440\u043e\u0441\u0441\u0438\u0438-\u0432-\u0443\u0441\u043b\u043e\u0432\u0438\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weiner, Cs.: \u0412\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439 \u0431\u0438\u0437\u043d\u0435\u0441 \u0432 \u0420\u043e\u0441\u0441\u0438\u0438 \u0432 \u0443\u0441\u043b\u043e\u0432\u0438\u044f\u0445 \u0441\u0430\u043d\u043a\u0446\u0438\u0439 \u0438 \u043a\u043e\u043d\u0442\u0440\u043c\u0435\u0440 2022 \u0433\u043e\u0434\u0430: \u043e\u043f\u044b\u0442 \u043f\u0435\u0440\u0432\u044b\u0445 \u0448\u0435\u0441\u0442\u0438 \u043c\u0435\u0441\u044f\u0446\u0435\u0432 - VGI\" \/>\n<meta property=\"og:description\" content=\"In: \u0412\u0438\u0448\u0435\u0433\u0440\u0430\u0434\u0441\u043a\u0430\u044f \u0415\u0432\u0440\u043e\u043f\u0430 [Visegrad Europe], 4(2), 24-33. (2022)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-\u0432\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439-\u0431\u0438\u0437\u043d\u0435\u0441-\u0432-\u0440\u043e\u0441\u0441\u0438\u0438-\u0432-\u0443\u0441\u043b\u043e\u0432\u0438\/\" \/>\n<meta property=\"og:site_name\" content=\"VGI\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-05T19:59:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"823\" \/>\n\t<meta property=\"og:image:height\" content=\"1100\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/\",\"url\":\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/\",\"name\":\"Weiner, Cs.: \u0412\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439 \u0431\u0438\u0437\u043d\u0435\u0441 \u0432 \u0420\u043e\u0441\u0441\u0438\u0438 \u0432 \u0443\u0441\u043b\u043e\u0432\u0438\u044f\u0445 \u0441\u0430\u043d\u043a\u0446\u0438\u0439 \u0438 \u043a\u043e\u043d\u0442\u0440\u043c\u0435\u0440 2022 \u0433\u043e\u0434\u0430: \u043e\u043f\u044b\u0442 \u043f\u0435\u0440\u0432\u044b\u0445 \u0448\u0435\u0441\u0442\u0438 \u043c\u0435\u0441\u044f\u0446\u0435\u0432 - VGI\",\"isPartOf\":{\"@id\":\"https:\/\/vgi.krtk.hu\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif\",\"datePublished\":\"2023-01-05T19:57:09+00:00\",\"dateModified\":\"2023-01-05T19:59:12+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/#primaryimage\",\"url\":\"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif\",\"contentUrl\":\"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif\",\"width\":823,\"height\":1100},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/vgi.krtk.hu\/#website\",\"url\":\"https:\/\/vgi.krtk.hu\/\",\"name\":\"VGI\",\"description\":\"Vil\u00e1ggazdas\u00e1gi Int\u00e9zet\",\"publisher\":{\"@id\":\"https:\/\/vgi.krtk.hu\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/vgi.krtk.hu\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/vgi.krtk.hu\/#organization\",\"name\":\"VGI\",\"url\":\"https:\/\/vgi.krtk.hu\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/vgi.krtk.hu\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2022\/08\/cropped-Group-960-1.png\",\"contentUrl\":\"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2022\/08\/cropped-Group-960-1.png\",\"width\":199,\"height\":57,\"caption\":\"VGI\"},\"image\":{\"@id\":\"https:\/\/vgi.krtk.hu\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Weiner, Cs.: \u0412\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439 \u0431\u0438\u0437\u043d\u0435\u0441 \u0432 \u0420\u043e\u0441\u0441\u0438\u0438 \u0432 \u0443\u0441\u043b\u043e\u0432\u0438\u044f\u0445 \u0441\u0430\u043d\u043a\u0446\u0438\u0439 \u0438 \u043a\u043e\u043d\u0442\u0440\u043c\u0435\u0440 2022 \u0433\u043e\u0434\u0430: \u043e\u043f\u044b\u0442 \u043f\u0435\u0440\u0432\u044b\u0445 \u0448\u0435\u0441\u0442\u0438 \u043c\u0435\u0441\u044f\u0446\u0435\u0432 - VGI","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-\u0432\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439-\u0431\u0438\u0437\u043d\u0435\u0441-\u0432-\u0440\u043e\u0441\u0441\u0438\u0438-\u0432-\u0443\u0441\u043b\u043e\u0432\u0438\/","og_locale":"en_US","og_type":"article","og_title":"Weiner, Cs.: \u0412\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439 \u0431\u0438\u0437\u043d\u0435\u0441 \u0432 \u0420\u043e\u0441\u0441\u0438\u0438 \u0432 \u0443\u0441\u043b\u043e\u0432\u0438\u044f\u0445 \u0441\u0430\u043d\u043a\u0446\u0438\u0439 \u0438 \u043a\u043e\u043d\u0442\u0440\u043c\u0435\u0440 2022 \u0433\u043e\u0434\u0430: \u043e\u043f\u044b\u0442 \u043f\u0435\u0440\u0432\u044b\u0445 \u0448\u0435\u0441\u0442\u0438 \u043c\u0435\u0441\u044f\u0446\u0435\u0432 - VGI","og_description":"In: \u0412\u0438\u0448\u0435\u0433\u0440\u0430\u0434\u0441\u043a\u0430\u044f \u0415\u0432\u0440\u043e\u043f\u0430 [Visegrad Europe], 4(2), 24-33. (2022)","og_url":"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-\u0432\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439-\u0431\u0438\u0437\u043d\u0435\u0441-\u0432-\u0440\u043e\u0441\u0441\u0438\u0438-\u0432-\u0443\u0441\u043b\u043e\u0432\u0438\/","og_site_name":"VGI","article_modified_time":"2023-01-05T19:59:12+00:00","og_image":[{"width":823,"height":1100,"url":"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif","type":"image\/gif"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/","url":"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/","name":"Weiner, Cs.: \u0412\u0435\u043d\u0433\u0435\u0440\u0441\u043a\u0438\u0439 \u0431\u0438\u0437\u043d\u0435\u0441 \u0432 \u0420\u043e\u0441\u0441\u0438\u0438 \u0432 \u0443\u0441\u043b\u043e\u0432\u0438\u044f\u0445 \u0441\u0430\u043d\u043a\u0446\u0438\u0439 \u0438 \u043a\u043e\u043d\u0442\u0440\u043c\u0435\u0440 2022 \u0433\u043e\u0434\u0430: \u043e\u043f\u044b\u0442 \u043f\u0435\u0440\u0432\u044b\u0445 \u0448\u0435\u0441\u0442\u0438 \u043c\u0435\u0441\u044f\u0446\u0435\u0432 - VGI","isPartOf":{"@id":"https:\/\/vgi.krtk.hu\/#website"},"primaryImageOfPage":{"@id":"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/#primaryimage"},"image":{"@id":"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/#primaryimage"},"thumbnailUrl":"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif","datePublished":"2023-01-05T19:57:09+00:00","dateModified":"2023-01-05T19:59:12+00:00","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/vgi.krtk.hu\/en\/publikacio\/weiner-cs-%d0%b2%d0%b5%d0%bd%d0%b3%d0%b5%d1%80%d1%81%d0%ba%d0%b8%d0%b9-%d0%b1%d0%b8%d0%b7%d0%bd%d0%b5%d1%81-%d0%b2-%d1%80%d0%be%d1%81%d1%81%d0%b8%d0%b8-%d0%b2-%d1%83%d1%81%d0%bb%d0%be%d0%b2%d0%b8\/#primaryimage","url":"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif","contentUrl":"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2023\/01\/Visegradszkaja-Jevropa.gif","width":823,"height":1100},{"@type":"WebSite","@id":"https:\/\/vgi.krtk.hu\/#website","url":"https:\/\/vgi.krtk.hu\/","name":"VGI","description":"Vil\u00e1ggazdas\u00e1gi Int\u00e9zet","publisher":{"@id":"https:\/\/vgi.krtk.hu\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/vgi.krtk.hu\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/vgi.krtk.hu\/#organization","name":"VGI","url":"https:\/\/vgi.krtk.hu\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/vgi.krtk.hu\/#\/schema\/logo\/image\/","url":"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2022\/08\/cropped-Group-960-1.png","contentUrl":"https:\/\/vgi.krtk.hu\/wp-content\/uploads\/2022\/08\/cropped-Group-960-1.png","width":199,"height":57,"caption":"VGI"},"image":{"@id":"https:\/\/vgi.krtk.hu\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/vgi.krtk.hu\/en\/wp-json\/wp\/v2\/publikacio\/8843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vgi.krtk.hu\/en\/wp-json\/wp\/v2\/publikacio"}],"about":[{"href":"https:\/\/vgi.krtk.hu\/en\/wp-json\/wp\/v2\/types\/publikacio"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vgi.krtk.hu\/en\/wp-json\/wp\/v2\/media\/8841"}],"wp:attachment":[{"href":"https:\/\/vgi.krtk.hu\/en\/wp-json\/wp\/v2\/media?parent=8843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vgi.krtk.hu\/en\/wp-json\/wp\/v2\/categories?post=8843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vgi.krtk.hu\/en\/wp-json\/wp\/v2\/tags?post=8843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}