Hungary withdraws from Russia-linked bank due to US sanctions

Hungary's Prime Minister Viktor Orban said the country abandoned a Budapest-based Russian bank, IIB, this week because US sanctions had "ruined" it. Hungary will comply with sanctions on Russia but continue to speak out against them. The US had "not given up on its plan to squeeze everyone into a war alliance", a step Hungary would resist, Orban said. The United States imposed new sanctions on the bank, including on three of its top officials, two Russians and Hungarian.