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Tuesday, April 23, 2024

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Russia To Help Hungary Build Two New Nuclear Reactors

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Hungary’s foreign minister Peter Szijjarto has said that Russian nuclear power behemoth Rosatom will begin construction of two new nuclear reactors in the country in the coming weeks.

The deal between Russia and the EU state, which was signed in 2014, aims to expand the existing Paks nuclear plant – which currently generates 40% of Hungary’s entire electricity supply.

Despite its invasion of Ukraine, EU sanctions have not affected Russia’s nuclear industry. Moves to isolate and sanction its oil and gas exports have not been unconditionally supported by Hungary.

Foreign Minister Peter Szijjarto, in a Facebook post, announced, “Let the construction begin!”.

With the additional two reactors, the nuclear power station – currently made up of four Soviet-built reactors – will see its capacity more than double, reported British media company BBC. “This is a big step, an important milestone,” Mr Szijjarto said in a Facebook post quoted by AFP news agency.

“In this manner we will ensure Hungary’s energy security in the long term and protect Hungarians from wild swings in energy prices.”

Foreign minister Szijjarto further added that the nuclear reactors could be ready for service by 2030. The controversial $12.4 billion project is largely being paid for by Russia.

As the war in Ukraine rages on, many EU states have been trying to reduce their dependence on Russian energy supplies.

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