Hungary's Prime Minister Viktor Orban is not backing down in a row with Brussels - insisting in a speech before the Hungarian Parliament that if European Union legislators freeze his country out of the bloc's shared budget, he will obtain those funds from somewhere else.

The European Commission has recommended suspending 65 percent of EU funds, an estimated $7.5 billion, to Hungary over concerns on the rule of law. Orban blamed the EU for the continent's energy crisis and called for the scrapping of all sanctions against Russia.

According to Orban the sanctions imposed by the EU against Russia have "backfired" by leading to spiking energy prices. Orban's government has clashed with Brussels since the start of the Ukraine conflict as pressure has continued to mount at home and abroad.

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The leading opposition party announced the formation of a shadow government to defeat him and recently, EU lawmakers declared that Hungary is no longer a full democracy and froze 65 percent of EU funds over corruption.

Orban, has had close ties with Russia's President Vladimir Putin in recent years and has frequently railed against EU sanctions against the Kremlin, arguing that they hurt Europe more than Moscow. 

"If the Brussels bureaucrats do not give us this money, which Hungary is eligible for, then we will get the necessary funds from other financial sources," Orban said. "We have launched these talks with the European Union and other international partners."

Orban also said that Governments in Europe are failing, referring to Sunday's election in Italy where far-right leader Georgia Meloni is on course to become prime minister.

He told Parliament that Hungary should prepare for a prolonged conflict in Ukraine - the country's neighbor. "Europe is shooting itself in the foot," he said. "A dwarf is imposing sanctions on a giant when sanctions can only work if it's the other way round."