Hungary Receives US Support in Lifting Sanctions That Hampered Expansion of Paks Nuclear Power Plant
Hungary has officially announced a positive development in its relations with the United States concerning the expansion of its only nuclear power plant, Paks, which plays a crucial role in the country’s energy security. On Sunday, Foreign Minister Peter Szijjarto made a significant statement expressing gratitude to the US for lifting sanctions that previously obstructed the long-term and safe development of nuclear energy. According to him, these sanctions, imposed by the Biden administration, created serious difficulties for the continuation and modernization of the plant, which is vital for Hungary’s energy independence. Paks is Hungary’s only nuclear facility, and its operation was extended to the 2030s after modernization. The expansion project, known as Paks II, with a cost of approximately €12 billion, is being implemented in cooperation with Russia’s Rosatom and is primarily financed through a Russian state loan. This major project has been a source of political debate within Europe, especially amid ongoing sanctions and geopolitical conflicts. Minister Szijjarto emphasized that the current US administration led by President Biden has made a policy decision to lift certain measures that hindered Hungary’s energy supply security. He noted that this move is vital for strengthening bilateral relations and cooperation in the energy sector, ensuring the safe operation of the plant and the preservation of long-term tariffs. He highlighted that this decision is particularly valued given support from former US President Donald Trump and the Republican administration, which took actions that secured Hungary’s nuclear future and contributed to reducing utility tariffs. The details regarding which specific sanctions have been lifted remain confidential; however, it is clear that this development opens new opportunities for Hungary’s nuclear program. Overall, this is a strategic step for Budapest toward ensuring energy stability, strengthening diplomatic ties with the US and Russia, and fostering the development of nuclear energy. The Paks expansion project is essential in Hungary’s efforts to reduce reliance on fossil fuels and secure a sustainable and environmentally friendly energy future for decades to come.