Orban visits Putin today in Russia
Hungarian Prime Minister Viktor Orbán traveled to Moscow to meet Russia’s President Vladimir Putin and discuss economic ties of their two countries as well as Hungary’s continuing energy business with Russia, according to reports.
Putin and Orbán are to continue their relationship in Moscow today. (Photo: kormany.hu)
Orbanʼs visit today takes place on the exact day Putin visited him in Hungary last year, according to Russian news agency Tass.
In the period between January-October of last year, trade between Russia and Hungary shrank by almost 50%, to $4.5 billion, Tass reported, citing Hungarian statistical data. Russian exports declined by more than a half, while imports dropped 41%, Tass added. The Russian news agency noted that Russia’s exports to Hungary consists mostly of energy resources (more than 80%), while the share of manufacturing sector products is approximately 10%.
The two leaders might also discuss the upgrade of Hungary’s sole nuclear power plant in Paks, as last year the discussed the project for Russian firm Rosatom to expand the reactor through a €10 billion loan from Russia. The planned upgrade at Paks has been opposed by environmentalists and energy experts, who say the electricity produced will not repay the project. The European Commission having launched an investigation into the loan Russia is providing.
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