Sergeyev: Paks upgrade not under threat


“The planned upgrade of the Paks nuclear power plant could not be threatened by any geopolitical development,” Russia's recently appointed ambassador to Hungary, Vladimir Sergeyev, was reported as saying in today's Magyar Hírlap. He added that “Hungarian-Russian relations should not be over politicized.”

"Budapest did not make any concession to us", the ambassador said. The long-term economic interests of both countries met, which, under normal circumstances, works anywhere else in the world, should not establish grounds for the speculation of opposing political forces, which is clearly nowhere near reality, Sergeyev said.

Russia's Rosatom offered the best technology for the upgrade of the Paks plant and this was complemented by the most advantageous financing, he said. Sergeyev added that he was convinced the new blocks would be completed on schedule, noting that the project depended on Russia and Hungary, independent of geopolitics and, hopefully, from the bureaucrats in Brussels.

He called the relationship between Russia and Hungary a "pragmatic partnership", based on joint interests, but flexible enough to adapt to the realities of Hungary's membership in the European Union and NATO.

Sergeyev said that Russia had not put any pressure on Hungary in connection with the Paks plant or the South Stream project. Despite the cancellation of the South Stream pipeline project, Moscow is still considering another "gas motorway" that could ensure diversified gas supply for the region, including Hungary, he said.


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.