Analysis
Security
CEE Needs To Modernise Industry To Strategically Lead the EU
21 March 2023
After 12 years of cosying up to Moscow, the Hungarian prime minister seems to have joined the anti-Russia coalition. But is it genuine and what does it hold for the upcoming parliamentary elections?
Just hours after the Russian invasion of Ukraine began, several thousand protesters gathered in front of the Russian Embassy, near Budapest’s elegant Andrássy avenue in the chilling cold. Holding posters of President Vladimir Putin and chanting ‘Russians go home’ — a popular phrase during the 1956 uprising in Hungary and used by Viktor Orbán in his famous 1989 speech — the demonstrators called for ousting the International Investment Bank (IIB) and the suspension of the Paks nuclear power plant expansion.
Editor’s Pick: Will Orbán Win the Hungarian Elections by Cosying up to Putin’s Russia?
The 12-billion-euro expansion of the Hungarian nuclear plant was agreed upon by Victor Orbán and Vladimir Putin in 2014. Not only is it financed by a 10-billion-euro loan from a Russian state bank but it will be conducted by Russian Rosatom. The arrival of the IIB in 2019 to its Budapest headquarters also raised eyebrows both at home and abroad, as critics say the institution could be a hub for Russian spies within the EU.
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