Published by Global Banking and Finance Review
Posted on November 7, 2025
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)
Explore more articles in the Headlines category
