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Free AccessPM Orban-We Will Veto Any Sanctions On Russian Nuclear Energy
Speaking to state radio earlier today, Hungarian PM Viktor Orban stated that his gov't would veto any EU sanctions on the Russian nuclear energy sector. Kyiv has called on the state-run Russian nuclear energy agency Rosatom to face similar sanctions to other Russian entities. However, the firm is in talks with the Hungarian gov't to upgrade the Paks nuclear power plant (see 0832GMT EM bullet), meaning any sanctions on Rosatom will risk Hungary's future energy supply.
- Orban stated any measures against Rosatom "must obviously be vetoed. We will not allow the plan to include nuclear energy into the sanctions be implemented. This is out of the question."
- Reports in mid-Jan suggested that the EU is working on a 10th round of sanctions against Russia to be implemented around late-Feb, marking the one year anniversary of the launch of the invasion of Ukraine.
- There have been suggestions that these could include sanctions on Russian nuclear fuel, but given Orban's comments the EU may drop this plan in order to avoid confrontation with Budapest.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.