Budapest hosted the Russian International Investment Bank for years, but due to American and EU outrage, Hungary left the bank. Later, the Russians decided to leave Hungary because of the sanctions. However, they did not repay Hungary billions of forints, and they owe even a Budapest palace, which is still in the ownership of the bank.
Hungary should lobby against US, EU anti-Russia sanctions, IIB said
According to Népszava, the Russian International Investment Bank owes Hungary USD 74 million and an astonishing Budapest palace located in the prestigious area of the Chain Bridge. However, the Hungarian government seems to do nothing to reclaim the money and assets.
Based on the paper, Czechia took all legal steps to reclaim its money stuck in the Russian IIB after the bank left Eastern Europe. At least, that is what their finance ministry told the paper. The Hungarian government does not follow that example.
The bank called on all former European member states to press the Americans and Brussels to abolish the anti-Russia sanctions. As a result, they would be able to pay back their debts. For example, if the Orbán cabinet wants to retrieve its billions, they should convince the Biden administration to abolish the anti-Moscow sanctions. That is, of course, impossible even though the Orbán cabinet regularly slams the sanctions and keeps fingers crossed for Trump.
Minister mentions procedures
Gergely Gulyás, the head of the Prime Minister’s Office, talked about a bankruptcy procedure or a compulsory liquidation against the bank. But there is no trace of such legal processes in the official databanks. Népszava wrote that the minister said in a November press conference that there was a procedure against the bank, but that was not a bankruptcy procedure or a compulsory liquidation. He added that the Hungarian state would assert all its claims against the debtor.
This May, he mentioned a compulsory liquidation procedure, but he was not sure about that. He said the Chain Bridge Palace, the former HQ of the bank, was in the ownership of the financial institution. Based on estimates, it was at least HUF 9 billion (EUR 22.75 million). Mr Gulyás highlighted that they would like to reclaim the ownership of the building.
Népszava argues there was no trace of any legal procedures against the bank.
IIB, the Trojan horse of the Russians?
The Russian International Investment Bank started operation before the Russian invasion of Ukraine and inaugurated its new seat in the heart of Europe in February 2021. After the invasion, European states left it one after the other. The last one to do so was Hungary in April 2022, with 25.26% of the shares. That came after the United States introduced sanctions against the Hungarian head of the Russian bank, former VP Imre Laszlóczki.
The American government, their representative in Budapest, Ambassador David Pressman, and some of their Western allies always considered the IIB as President Vladimir Putin’s Trojan horse in Europe. The bank left Hungary after the American and EU sanctions, saying their operation in the continent became impossible.
PM Viktor Orbán met with President Putin at the beginning of July in Moscow as part of his so-called peace mission. Neither mentioned the IIB and its debt to Hungary in the following and jointly held press conference.
Read also:
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- EU diplomats fuming: Hungary appeals to Brussels for Russian oil assistance – details HERE
The Hungarian people are fools led by a truly traitorous mafia group organized as a political party. The problem is that the fools who are the Hungarian people have little access to information except for the propaganda that the mafia group feeds them through monopoly control of virtually all media. If the fools keep electing them they have no right to complain about their miserable lives.
https://apnews.com/article/hungary-media-democracy-orban-magyar-european-parliament-f6315d7cc252f210c360863de403054e
Larry, since you look down on Hungarian people and call them stupid, why do you bother with this nation. You like Brussels’ dictatorship, you are probably antisemitic. Leave the people of Hungary alone. The people managed to live for over 1,000 years without idiotic statement.
Try to find another nation that you can hate equally well.
Larry ( above ) is likely an American Charlatan who thinks that allowing a few thousand Russians and Belarusians into Hungary with a Visa will give them the right to go into any EU Nation !
This is not the case moreover, i remember that Frau “ mutti” Merkel allowed millions of unvetted migrants from the middle -East into Germany , hoping they would spread throughout the EU and “ culturally enrich “ the entire EU with their cultural norms from a past age.
They ended up going to Eire, Sweden, Denmark, Netherlands, Belgium ,……the states with good welfare and freebies , these States now have record sexual crimes, robbery, frauds, Narcotics Gangs who see this as a bonanza , in total i read on the net that 80% of these migrants are net takers from the Economies of the foolish States that let them in .
Larry you should visit Russia to see how many Americans, Canadians , Westerners in general are relocating there, the Prices of homes and apartments are over 50% cheaper than in the US, zero Wokeism, no Gat marriage allowed, to teaching young children about perversions or promoting trans degeneracy .
Good welfare benefits for Women to have children , supporting marriages between a man and Woman and encouraging them to have children , vetting of all immigrants to ensure they are disease free, do not have a bad criminal record that can be a danger to the State.
Russia is actually a safe State to live and a proud Christian State with clean Christian values moreover, they do not care what the dirty immoral West think of their modus operandi