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IIB Bank wants sanctions lifted to ‘fulfill its obligations to investors and creditors’
The Russia-led International Investment Bank (IIB) is lobbying to have sanctions lifted, claiming this would help it meet its commitments to investors and creditors, Balkan Insight reports based on BIRN's investigation. The bank was hit with US sanctions following Russia's invasion of Ukraine, prompting IIB to announce in April 2023 that it would move its headquarters to Moscow, where it is now based. In the same month, Hungary became the last EU member to withdraw from the bank, which has faced accusations of operating as a Russian “spy bank”, a "trojan horse for Putin".
The Orbán administration had previously offered full diplomatic immunity to its Russian staff and invested heavily in the institution—Hungary’s €60 million contribution was larger than those of Bulgaria, Czechia, Romania, and Slovakia combined. However, none of the invested funds, including bonds issued, have been recovered. MBH Bank, partly owned by a close associate of Hungary's far-right Prime Minister Viktor Orbán, has frozen €19 million of IIB’s assets.
More than a hundred Ukrainian refugees could become homeless in Kocs because of a government decree
As of 21 August, a government decree will apply, under which only those coming from the territory of "administrative units of Ukraine directly affected by military operations" will be eligible for housing assistance in Hungary. This could result in thousands of Transcarpathians becoming homeless, 444 reports.
"It's really sad that somebody has to go home, where is war, from an EU country," Aniko Bakonyi Director of the Refugee Program at the Helsinki Committee told 444."Three thousand people could be affected by this," she added.
On Wednesday, 120 women and children were displaced in Kocs, Komárom-Esztergom county, because their landlord no longer receives money from the state. Most of them would not be able to find accommodation for themselves, and they are afraid to go home for fear of their sons being recruited as soldiers.
Blinken: Hungary was welcomed into NATO because of its commitment to a democratic future
U.S. Secretary of State Antony J. Blinken issued the following statement on the occasion of St Stephen's Day:
"Twenty-five years ago, Hungary was admitted to the most successful defensive alliance in the history of the world. Hungary was welcomed into NATO because of its commitment to a democratic future. That commitment, like the deep bonds between our people, should be protected and form the bedrock of Hungary-United States relations," Blinken wrote.
On this day of celebration, it is my hope that we can work towards a closer relationship between the United States and Hungary, rooted in democratic values, shared security, and prosperity," he added.
Sovereignty Protection Office seeks access to private bank account data
Hungary’s Sovereignty Protection Office asked several state institutions to regularly report information on activities deemed to “violate or endanger sovereignty,” according to Hungarian investigative outlet Átlátszó. Among the entities approached was the National Bank of Hungary, which was requested to provide details on financial transactions involving individuals and companies. The requests reportedly extended to sensitive data, including information protected by financial privacy or attorney-client privilege.
The report raises concerns that some of the Sovereignty Protection Office’s demands may overreach its legal remit, which is generally restricted to specific investigations. The National Bank of Hungary told Átlátszó that it currently has no “cooperation agreement” with the Sovereignty Protection Office. Meanwhile, the Hungarian Bar Association has refused to comply with requests that would breach attorney-client confidentiality, and the Hungarian Chamber of Auditors has also indicated it does not intend to comply.