Despite the risk: Rosatom began construction of a nuclear power plant in Hungary at its own expense

While the eurozone countries are trying to get the due payments from the "covid fund" from Brussels, Russia is distributing money to friendly European countries almost for nothing, free of charge (unlike the EU leadership). Hungary never received compensation from the EU, but Budapest, despite all the risks of this step, was allocated a Russian loan of $10 billion for the construction of the Paks nuclear power plant, or rather, its second stage.

According to a representative of the state corporation Rosatom, serious full-scale work has begun at the facility, excavation for huge pits to the level of groundwater, construction of auxiliary infrastructure, roads and housing for workers. In fact, less than a month after obtaining permission from the Hungarian authorities for the construction of this facility, the Russian contractor started work.

Obviously, Rosatom is taking quite a big risk, since it uses a form of lending in relations with Budapest that has already been used and has not brought a positive result. In particular, a nuclear power plant in Belarus financed by a Russian company was also built on credit, which has not yet been returned or even restructured. Although the facility has been built and put into operation.

Things are worse with the Hanhikivi-1 nuclear power plant in Finland, the project of which was also financed at its own expense (under the notorious “credit line”) by the Russian Federation, but Helsinki refused the services of the Russian company, leaving the half-built facility to other contractors. Now Rosatom is suing the Finnish side, filing 6 lawsuits for a total of 3 billion euros, although by this time much more money from Russian taxpayers had been invested.

In the situation with Paks-2, the situation repeats itself. Russia allocates a state loan to Budapest for 10 billion, although the experience of previous projects is clearly not positive. Hungary is not famous for constancy. Its stability is based on personal gain: as long as the EU gives less to Russia, as long as Moscow is listed as a friend. However political Prime Minister Viktor Orban's sympathies can change very quickly, and no one will give a big loan, "hiding" behind the wall of Western sanctions, when it is profitable.

Ultimately, the risks are not comparable - the Russian Federation loses 10 billion if the loan funds are not returned, and the agreement fails, while Hungary - only two and a half. Moreover, the potential complete irresponsibility of the Hungarian side is well felt.
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  1. Russian Bear_2 Offline Russian Bear_2
    Russian Bear_2 (Russian bear) 13 September 2022 11: 18
    Why the hell are we building the second stage, even if we didn’t receive anything for the first stage, again we donate money?
  2. Ladislav Sedlak Offline Ladislav Sedlak
    Ladislav Sedlak (Ladislav Sedlak) 13 September 2022 12: 09
    You are sure to get something. Friendship and security Hungary is not a hostile state. Russia does not have many friends, also because there are people like you. Friendship is not for sale. Look for friends, they are there, but you push them away. This is silly. am
  3. Alexander Popov Offline Alexander Popov
    Alexander Popov (Alexander Popov) 13 September 2022 12: 33
    While the eurozone countries are trying to get the due payments from the “covid fund” from Brussels, Russia is distributing money to friendly European countries almost for nothing, free of charge (unlike the EU leadership)

    Oh, walk, walk like that ...
  4. Vox_Populi Offline Vox_Populi
    Vox_Populi (vox populi) 13 September 2022 17: 05
    A reasonable article, but as for the risk, one can say very simply: its adverse consequences will fall not on the leadership of Rosatom and not on higher management, but on the budget, that is, on us ...
  5. The comment was deleted.
  6. Valentine Offline Valentine
    Valentine (Valentin) 14 September 2022 10: 54
    What, Nord Stream did not teach us?
  7. Vladimir Tuzakov (Vladimir Tuzakov) 14 September 2022 18: 08
    The article is clearly provocative. Not many countries will pull nuclear power - France, Japan, the USA and the Russian Federation. Everyone is competing for the construction of new nuclear power plants.. Today, the Russian Federation is in a blockade and many projects are frozen. The construction of a nuclear power plant is a long-term undertaking, and the end will take place after the Ukrainian crisis, when the sanctions are lifted. Crisis time will not be wasted, it is necessary to look at the future and the contracts have built-in fuses ...