The European Union has cleared Hungary to provide state aid to build two nuclear reactors with Russian help after Budapest made commitments to safeguard competition in the energy sector.
The Hungarian deal for Russia to build the two additional reactors at the Paks nuclear plant, which was struck three years ago, had been held up because of the EU’s regulatory demands.
Prime Minister Viktor Orban has said he hopes to start construction soon once approval is agreed upon.
EU Antitrust Commissioner Margrethe Vestager said that “the Hungarian government has made substantial commitments, which has allowed the Commission to approve the investment under EU state aid rules.”
The expansion of Hungary’s nuclear power plant will be financed mostly with a loan from Russia of $10.6 billion and carried out by Russia’s Rosatom.
Full Content: Politico
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI