Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said that Hungary will not support any sanctions, no matter how small, by the European Union that restrict Hungarian-Russian nuclear cooperation.
Minister Szijjarto said that sanctions harm the EU more than they do Russia, adding that existing energy sanctions have taken the EU to a dead end.
According to him, Hungary’s sole nuclear power plant Paks covers about a half of the country’s electricity needs, so Hungary is very dependent on nuclear power.
In January 2014, Hungarian Government has signed deal with Russia`s Rosatom, with a goal to increase output of the power plant, from current 2,000 MW to 4,400 MW by adding two more reactors. Under the agreement, Russia will provide 10 billion euros loan for the construction of new unit in existing NPP, which is around 80 % of estimated construction cost. According to initial plan, first unit was supposed to become operational in 2023. The latest estimates put the start of production at new units in 2029-2030.