On Sunday 29 June, Hungarian Foreign Minister Péter Szijjártó has thanked the United States for lifting sanctions that had hindered the expansion of the Paks Nuclear Power Plant, a project being carried out by Russia’s state nuclear corporation Rosatom. 

Source: Hungary’s pro-government news agency MTI, as reported by European Pravda

Details: Szijjártó said that under Joe Biden’s administration, the US had made a number of political decisions that placed Hungary in "an extremely difficult position".

Quote from Szijjártó: "One of these sanctioning measures attempted to make long-term safe energy supply for Hungary impossible by introducing restrictions on the construction of the Paks Nuclear Power Plant, which practically prevented further progress on the project. Fortunately, since January, there has been a president in the White House who considers Hungary a friend. As a result, the US government has lifted the sanctions related to investment in the Paks Nuclear Power Plant."

Details: He thanked US President Donald Trump and the Republican administration for their decision, which he said "guarantees Hungary safe energy supply in the long term and preserves the results of reduced utility prices".

In recent days, there have been no official announcements specifying exactly which US sanctions were lifted in relation to the expansion of the Paks Nuclear Power Plant.

Paks is Hungary’s only nuclear power plant, with its service life extended into the 2030s after modernisation.

Background:

• The expansion of the Paks Nuclear Power Plant – the Paks II project – is a €12 billion initiative led by Russia’s Rosatom and largely financed by a Russian state loan.
• This project is one of the key reasons Hungary has consistently opposed sanctions targeting Russia’s nuclear sector.

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