Subsanctioned International Investment Bank Leaving Hungary

by Meifan Honcharuk
Thursday, April 20, 2023
Subsanctioned International Investment Bank Leaving Hungary

The Kremlin's "Trojan horse" is leaving the Eurozone

In 2019, Russia moved the headquarters of its bank, the International Investment Bank, from Moscow to Budapest. On April 12, 2022, the United States imposed sanctions on this bank, after which Romania, Bulgaria, the Czech Republic, and Slovakia terminated cooperation with the International Investment Bank. And only Hungary, under the leadership of the current prime minister, refused the denunciation.

"Taking into account the actual termination of Hungary's membership in the International Investment Bank, the grounds for the further operation of the International Investment Bank from the headquarters in Budapest and the European Union have been exhausted. The bank has started the transfer of operations and functions of the headquarters from Hungary to Russia," reports the representative office of the IIB.

We remind you that maintaining the functioning of this bank is one of the reasons for the deterioration of relations between Orban and the USA.

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