Hungary can use Russian Rosatom to finish nuclear plant, US approves
Donald Trump and Viktor Orbán (Photo: Getty Images)
The US administration has exempted Hungary from financial sanctions against Russia, allowing the continuation of the Paks II nuclear power plant project carried out by Rosatom, according to Reuters.
According to the agency, citing the US Treasury, Washington issued a general license on Friday permitting certain financial transactions related to the Paks II project. This includes transactions involving several Russian banks, including the Russian Central Bank, which are normally subject to sanctions restrictions.
Reuters notes that the license was approved following a new US-Hungary nuclear energy agreement. The agreement was signed earlier this month during a meeting between US President Donald Trump and Hungarian Prime Minister Viktor Orbán.
According to the document, Budapest plans to purchase US nuclear fuel as well as spent fuel storage technologies as part of the Paks II project.
In September, Austria won the right to block funding for the Hungarian Paks II nuclear power plant, which is being built by Rosatom.
The original Paks Nuclear Power Plant was constructed in the last century according to a Soviet design and has four VVER-440 reactors with a total capacity of 2,000 MW. The operational life of these reactors is set to end between 2032 and 2037.
Therefore, Hungary plans to expand its nuclear plant with two additional Russian-made VVER reactors. At the end of summer 2022, Hungary granted Rosatom a license to build Paks II, despite the company’s involvement in the occupation of the Zaporizhzhia Nuclear Power Plant in Enerhodar.
