Espreso. Global

Hungary doesn't block sanctions against Russia in exchange for Paks-2 construction

22 June, 2024 Saturday
18:04

Hungary supported the 14th package of EU sanctions against Russia in exchange for not affecting the construction of the Paks-2 nuclear power plant

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This is reported by the Hungarian service of Radio Liberty.

According to sources, the Hungarian government has stopped blocking EU sanctions in exchange for an exemption that will protect Paks-2 from any current and future potential sanctions.

In addition, the country has removed the Paks-2 project from the scope of sanctions from previous packages, meaning that it is now subject to a general exemption.

The publication notes that this concession does not change the Hungarian government's position against all sanctions related to nuclear issues, including sanctions against Rosatom executives for their role in the Russian occupation and operation of the Zaporizhzhia NPP.

However, the Hungarian government has previously ruled out supporting any punitive measures affecting the Russian gas sector, citing security of supply. "This is a significant event," the article says.

What is known about the Paks-2 NPP

The Paks-2 nuclear power plant in central Hungary has been under construction by the Russian company Rosatom since 2014. It is constructing two reactors with a capacity of 1.2 GW each.

The Paks-2 project envisages the expansion of Hungary's only nuclear power plant, Paks, which currently has 4 reactors. Paks NPP is located 100 km from Budapest and 5 km from the town of Paks. The plant was built according to a Soviet design and produces more than 42% of all electricity generated in the country.

The cost of the Paks 2 project is more than €12 billion. Rosatom is to build two new reactors at the plant by 2030-2031. Russia and Hungary signed documents on the construction of the fifth and sixth units of the Paks NPP after the occupation of Crimea in late 2014. The project is led by Rosatom and is financed mainly by a Russian government loan. In August 2022, Hungary issued a permit to the Russian Federation for the construction of the Paks-2 project. This project is one of the reasons why Hungary opposed any sanctions against Russian nuclear energy.

  • On June 20, European Union countries agreed on the 14th package of sanctions against Russia, despite Germany's delay in agreeing on new bans.
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