A day after the United States imposed sanctions on three Hungarian officials, Budapest said it will withdraw its representatives from the Russia-led International Investment Bank (IIB) and exit the institution. The Hungarian Economy Ministry said on April 13 that the government had concluded that the bank's operations had become meaningless as a result of the U.S. sanctions. On April 12, Washington slapped sanctions on three top Hungarian IIB officials after it said Budapest had ignored U.S. concerns over the "opaque Kremlin platform." To read the original story by RFE/RL’s Hungarian Service, click here.
Hungary To Exit Russian-Controlled International Investment Bank After U.S. Sanctions
Updated
Editors' Picks
RFE/RL has been declared an "undesirable organization" by the Russian government.
If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.
To find out more, click here.
