U.S. imposes sanctions on 2 Hungarian entities with Russian ties

Nuclear deal USA Hungary sanction
Photo: facebook.com/joebiden

The U.S. has placed sanctions on two Hungarian entities, as announced by U.S. Ambassador to Hungary, David Pressman, on the social media platform X.

Hungarian entities sanctioned by U.S.

US Ambassador David Pressman sanctions
U.S. Ambassador to Hungary, David Pressman, on the left. Photo: FB/US Embassy

Pressman informed Hungary’s Ministry of Foreign Affairs on 23 August about the decision. One of the targeted entities had been collaborating with the Russian energy sector and was involved in the planned construction of the Paks II nuclear power plant. The other entity manufactured weapons for the Russian military, 24.hu writes.

“We remain deeply concerned about the Hungarian government’s choice to strengthen its ties with the Kremlin, which continues to leave Hungary dependent on Russian energy,”

Pressman added.

According to Telex, the weapons manufacturer in question is Mátrix Metál Group Ltd., which is currently undergoing liquidation. This company had been supplying products to a Russian firm called Exiton, which were used in the production of Sukhoi fighter jets. Mátrix Metál is registered in an apartment building on Korányi Sándor Street in Budapest’s 8th district, and it is run by a Latvian national, Vladimirs Boreckis.

Russia uses Western technology in military production

US authorities have grown increasingly concerned about Russia’s military industry, particularly companies producing fighter jets, using Western technology in aircraft deployed in Ukraine. A Radio Free Europe investigation from May revealed that electronic components for Sukhoi jets were being supplied to Russia from the EU,

including from Cyprus and Hungary.

On 23 August, shortly after Ambassador Pressman’s statement, the U.S. State Department issued an official release announcing additional sanctions. These included a Hungarian-based branch of a Russian company.

The sanctioned Russian firm, Меzsregionstroj (referred to as MezhRegionStroj in Hungary), is a construction company involved in Russia’s Vostok project. This massive oil infrastructure endeavour aims to extract and transport oil from the Arctic region, with a goal of producing up to 100 million tons of crude annually, according to the U.S. State Department. The US government has placed sanctions on the Russian firm and its numerous subsidiaries.

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