“We are concerned that Hungarian leaders are seeking ever closer ties with the Kremlin despite Russia’s relentless aggression against Ukraine,” US Ambassador David Pressman said at a news conference in Budapest on Wednesday.
The US is critical of economic cooperation between Russia and Hungary
Close economic cooperation with Russia fuels the Russian war machine and threatens the security of the transatlantic alliance
said the diplomat.
Pressman announced the Washington government’s decision to add more than 50 institutions and individuals associated with Russia to the sanctions list, including the International Investment Bank (IIB), which is based in Budapest and often referred to as the “Russian spy bank” named. Those sanctioned included bank vice president Imre Laszloczki, former Hungarian ambassador to Kazakhstan and Azerbaijan.
The presence of this opaque Kremlin platform (IIB) in the heart of Hungary threatens the security and sovereignty of the Hungarian nation, its European neighbors and NATO allies
emphasized the US ambassador.
Hungary remains an important ally
At the same time, Pressman noted that “the US considers Hungary an important ally and wishes to maintain constructive relations with it,” and Wednesday’s statement was “a necessary step in that direction.”
The Hungarian press has been writing for several days that the Americans are considering imposing sanctions on, among others, some prominent Hungarians in connection with their position on the war in Ukraine.
Relations between the US and Hungary became tense after Joe Biden became president of the United States and defeated Donald Trump in the election. Despite the change of government in Washington, Hungarian authorities still openly support the former president. There have been some tensions between Pressman, who arrived in Budapest in September 2022, and the Hungarian government.
International Investment Bank was founded in 1970 by the countries of the Council for Mutual Economic Assistance, an organization that coordinates economic cooperation between countries dependent on the USSR. Initially, the head office was located in Moscow, but in 2019 it was moved to Budapest.
Following the Russian aggression against Ukraine, the Czech Republic, Slovakia, Bulgaria and Romania announced their withdrawal from the IIB. Currently, Hungary is de facto the only country in the European Union that belongs to the bank. The other members are Cuba, Mongolia, Russia and Vietnam.
Russia now owns more than 45% of shares in the bank, while the Hungarian state, the second largest shareholder, owns about 25%.
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rm/PAP
Source: wPolityce