FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The rift between Brussels and Budapest widened to furthest today, as the European Parliament led by Brussels bureaucrats determined to undermine national democracy voted in favor of Article 7 sanctions against Hungary over its failure to abide by EU rules. Brussels has long been accused Hungary of a failure to abide by European migrants policies that have led in millions of refugees into Europe since 2015. The EU parliament agreed on a plan to distribute migrants across the EU to share the burden, however, Hungarian Prime Minister Viktor Orban refused to let in a single refugee to preserve the socio-economic structure of Hungary.
The Article 7 of the 2007 Treaty of Lisbon is designed to be applied if there is a clear risk of a serious breach of the EU values by one of the member states. During the session in Strasbourg on Wednesday, 448 MEPs voted in favor of invoking the article against Hungary, while 197 voted against the motion and 48 abstained. It is claimed that Hungary's Prime Minister Viktor Orban and his government have been persistently flouting democratic principles. The full implementation of the Article 7 sanction can strip Hungary of its voting rights but it is currently not on the table as it required votes of four-fifths of members in EU.
A defiant Mr. Orban decried the EU attempts to force Hungary into accepting migrants saying that his country won’t bow down to EU blackmailing tactics and will protect its borders from illegal immigration and will stand up to the EU if the need be.
