eu green-lights hungary's €10bn nuclear deal

EU Commission Green - Lights Hungary’s Paks Nuclear Deal
3 March, 2014

The European Commission’s Directorate-General for Energy has reviewed and raised no objection to a draft of Hungary’s agreement with Russia on the upgrade to the Paks nuclear power plant for compliance with the Euratom Treaty.

“After examination of the draft Agreement, I would like to inform you that my services did not find any element that would as of itself impede the application of the Euratom Treaty in the meaning of its Article 103,” Dominique Ristori, Director-General of the European Commission’s Directorate- General for Energy, told Péter Györkös, Hungary’s permanent representative to the European Union in Brussels.

Hungary signed an agreement on Jan. 14 on the construction of two blocks at the Paks nuclear power plant by Russia’s Rosatom. Russia is lending Hungary 10 billion euros at favourable rates to cover 80% of the project’s costs.

Article 103 of the treaty establishing the European Atomic Energy Community requires EU member states to communicate draft agreements with third countries or international organisations in so far as they concern the application of the treaty.

Ristori recommended that Hungary make a reference to “nuclear safeguards” in the agreement and instructed correct references to be made to the safeguards agreement with the IAEA.

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