Hungary’s government decided to quit the Russian-controlled International Investment Bank a day after the US sanctioned the lender, the Economic Development Ministry said in a statement.
The country will join other European Union members, including the Czech Republic, Slovakia, Bulgaria and Romania, that have left or are in the process of withdrawal from the organization since Russia attacked Ukraine a year ago.
The US sanctioned the bank and three of its present or former executives, including a Hungarian national, for coordinating with Russian officials on IIB business since the invasion of Ukraine.
Hungary, which has lobbied against EU sanctions on ...
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