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Hungary/Russia: Nuclear power deal faces Brussels roadblock

 |  February 22, 2015

Hungary’s deal to award up to €12bn in nuclear power contracts to a Russian state-owned company is facing a growing threat from EU regulators.

Hungary’s prime minister says his country has reached a “political agreement” with Moscow on a new gas deal, Hungary’s main aim in hosting Russian President Vladimir Putin on Friday.

Prime Minister Viktor Orban said Tuesday after his meeting with Putin that only “technical” details needed to be finalized on the deal which will replace a 20-year contract expiring in December.

Hungary, like other European countries, is pressing to renegotiate its contract with Gazprom in light of the dramatic fall in world prices for natural gas.

Although the European Commission did not raise objections to an intergovernmental agreement signed by the two countries just over a year ago, the award of contracts for the Paks plant has thrown up thorny antitrust concerns.

Two EU agencies are now examining the agreements.

Full Content: The Financial Times


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