The European Union exempts the Paks II. project from sanctions in a separate paragraph

6/27/24 7:42 AM
Gergely Jákli said the decision is an important signal for EU and Hungarian suppliers.

Gergely Jákli reacted to the EU’s 14th package of sanctions adopted on Monday, saying that thanks to persistent work and negotiations, the European Union's measures against Russia have no impact on the Paks II. project. The Chairman-CEO of Paks II. explained that the project has been given a separate paragraph in the regulation just adopted. While previously the project was mentioned as an exception in the EU sanctions, now it is stated in a general, separate paragraph that the sanctions have no impact on the project. 

- This is an important step forward, which clearly shows all potential European suppliers that measures taken by the EU will not affect the supply of any given product or service to the Paks II. project – the Chairman-CEO said, adding that this is particularly true for Hungarian companies, as it is of utmost importance that as much Hungarian expertise and knowledge as possible be integrated into the 2400 MW nuclear power plant.

Gergely Jákli added: another aspect of the changes is that previously, for certain products and services, an exemption license had to be requested from the competent authority of the country concerned before supply. In the case of Paks II., this process is now practically eliminated, and it will be sufficient to simply inform the authorities.

- This will allow companies from the European Union to focus on what is important for a nuclear supplier: the production of the product and its quality assurance. This is wake-up call for the business community that the investment is waiting for all EU suppliers with the capacity and competence – the Chairman-CEO emphasized.