Published by Global Banking and Finance Review
Posted on November 7, 2025
2 min readLast updated: January 21, 2026
Hungary will acquire US nuclear fuel and technology for its Paks plant, marking a shift in its energy strategy away from Russian reliance.
BUDAPEST (Reuters) -Hungary will sign an agreement on nuclear power cooperation with the United States, including a deal to buy American nuclear fuel and U.S. technology to store spent fuel at a Russian-built nuclear power plant, Hungary's Foreign Minister said on Friday.
The deal will be signed as U.S. President Donald Trump was scheduled to sit down for talks with Hungarian Prime Minister Viktor Orban later on Friday and the two leaders were expected to discuss Hungary's reliance on Russian oil.
"We will sign a major intergovernmental agreement on cooperation in nuclear energy with my foreign minister colleague Marco Rubio," Foreign Minister Peter Szijjarto said.
Hungary is one of the few EU countries to maintain close relations with Moscow since Russia's invasion of Ukraine, and has been reluctant to reduce its reliance on Russian energy.
Trump is a supporter of fellow right-wing leader Orban but has called on European countries to cut back on energy links with Moscow and buy more energy from the United States.
Szijjarto said that Hungary would buy American nuclear fuel for its Russian-built nuclear plant in Paks to fulfil its growing energy needs.
Russia's Rosatom is currently building two new reactors in Paks. The "Paks II" expansion project, which has been significantly delayed, was awarded in 2014 to Rosatom without a tender.
"In addition to maintaining existing supplier relations, for the first time ever in Hungary's energy history we will also purchase American nuclear fuel," Szijjarto said.
Hungary will also buy American technology that will allow spent nuclear fuel to be safely stored inside the Paks nuclear plant, Szijjarto said in a statement.
The agreement will also cover small modular nuclear reactors, the minister said.
In August, Hungary announced that it was partnering with Poland's Synthos Green Energy, which holds the rights to GE Vernova Hitachi's technology on small modular reactors in central Europe.
(Reporting by Anita KomuvesEditing by Peter Graff)
Nuclear energy is the energy released during nuclear fission or fusion, particularly in the context of nuclear reactors, where it is harnessed to generate electricity.
Spent fuel refers to nuclear fuel that has been used in a reactor and is no longer efficient for sustaining a nuclear reaction. It requires careful management and storage.
Small modular reactors (SMRs) are a type of nuclear reactor that is smaller than conventional reactors and can be built in factories and transported to sites for assembly.
Rosatom is a Russian state-owned nuclear energy corporation involved in the construction of new reactors in Hungary, specifically at the Paks nuclear power plant.
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