Hungary's Orbán faces consequences for ties with Russia.
TL;DR
Hungary has announced its withdrawal from the International Investment Bank (IIB), a Russian-controlled institution, in a U-turn by Prime Minister Viktor Orbán. The move comes amid growing tensions between Hungary and Russia, and follows criticism from the US and EU over Hungary's close ties with Moscow. Orbán had previously praised the IIB as a "success story" of cooperation between Hungary and Russia.
- Hungary quits Russian-controlled investment bank in Orbán U-turn Financial Times
- US sanctions Hungary-based bank with Russian ties euronews
- Viktor Orbán’s political allies in Hungary in sights of US sanctions The Guardian
- Hungary's prime minister called U.S. a main adversary, leaked documents say NBC News
- Hungary withdraws from sanctioned Russia-linked bank POLITICO Europe
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