OUR Hungary announced its withdrawal from Russia-linked investment bank IIB a day after the US sanctions.
OUR International Investment Bank (IIB) moved its headquarters from Moscow to Budapest in 2019, fueling Western fears that Russia could use it as a spy tool.
On Wednesday, Washington imposed sanctions on the IIB and its top managers, including a Hungarian, after the arrival of the prime minister Viktor Orban repeatedly ignored US concerns about his activities.
And while many Hungarian officials have criticized US policy towards Hungary, on Thursday, April 13, the country’s development ministry said that Budapest was withdrawing from the IIB and simultaneously withdrawing its representatives from the banking institution.
“The government discussed the situation and found that although the International Investment Bank played an important role in the development of Central and Eastern Europe, its activities lost their meaning due to US-imposed sanctions,” the ministry said in a statement.
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Source: Kathimerini
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