Hungary Urging EU Institutions, Banks Not To Sanction Paks II Project - Foreign Minister

UNITED NATIONS (UrduPoint News / Sputnik - 24th September, 2022) Budapest is urging all European institutions and banks not to impose sanctions on the Paks II nuclear power plant project, Hungarian Foreign Minister Peter Szijjarto has told Sputnik.

"We are satisfied that in the first sanction package, it was said very clearly that the Civic or peaceful use of nuclear energy does not fall under the sanction regime. And that's why we urge all institutions in Brussels, all banks operational in the European Union or national regulators not overperform, respect this and do not try to put hurdles or obstacles in the way of this project," Szijjarto said on the margins of the United Nations General Assembly in New York.

The minister noted that anyone trying to hinder the implementation of the project would be attacking Hungary's sovereignty.

"And I do believe that those who try to slow down this project, those who try to put obstacles on the way of this project are basically attacking our national sovereignty because the safe supply of energy and the independence of this whole turbulence, for us is a matter of sovereignty," Szijjarto said.

Hungary's only nuclear power plant, Paks, generates almost half of all electricity in Hungary, with the share expected to double after the planned commissioning of two new NPP's reactor units. The Hungarian leadership has repeatedly emphasized that nuclear energy is a way to ensure the country's energy security.

In late 2014, Russia and Hungary signed an agreement on the construction of two additional advanced reactors for the Paks II nuclear power plant. The sides agreed that Russia would allocate 10 billion Euros ($9.84 billion) in a loan to finance the construction of the units.

In late August, the Hungarian Atomic Energy Authority (HAEA) issued a number of permits for the construction of the fifth and sixth units of the NPP.