Hungary's prime minister says the West is "shooting itself in the foot" with economic sanctions against Russia.

Prime Minister Viktor Orban said Friday on state radio the whole European Union policy of economic sanctions needs to be reassessed, saying it's hurting Hungary's export-based economy.

Hungary says its agricultural sector will incur annual losses of 80 million euros ($107 million) because of Russia's retaliatory measures banning food imports from the West. Orban said EU compensation was needed to cover the shortfall.

In January, Hungary signed a deal for Russia to build two reactors at the country's only nuclear power plant in the southern city of Paks. Russia will give Hungary a loan of up to 10 billion euros ($13.4 billion) — around 80 percent of construction costs.