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International Investment Bank

All articles tagged with #international investment bank

politics3 years ago•4 min saved

US sanctions deepen rift in Hungary's international relations.

The US has imposed sanctions on the Russian-Hungarian International Investment Bank (IIB) and its management, marking a new low in already strained relations between Hungary and the US. The IIB, which Hungary owned around 25% of the shares, is known as the "spy bank" due to its leadership's links to Russia's FSB intelligence service. The bank plays an important role in Russo-Hungarian relations. Hungary is the only EU country that still maintains friendly relations with Russia today.

via DW (English)|

#hungary #international-investment-bank #politics

politics3 years ago•1 min saved

US sanctions Hungary over Russian-linked bank and political allies.

Hungary is withdrawing from the Russia-linked International Investment Bank (IIB) after it was sanctioned by the United States. The IIB moved its headquarters from Moscow to Budapest in 2019, raising concerns in Western capitals that it could be used as a cover for Russian intelligence operations inside Europe. The Hungarian government's continued relationship with the Kremlin and its engagement with the IIB have strained its relationship with the US, which has deteriorated significantly over the past months.

via POLITICO Europe|

#hungary #international-investment-bank #politics

politics3 years ago•1 min saved

US imposes sanctions on Hungarian bank linked to Russia.

The US has placed three executives of the Budapest-based International Investment Bank, which is founded by Russia, on its sanctions list. The bank is considered a front for Russian intelligence services, and Hungary has granted diplomatic immunity to its officials. The US ambassador to Hungary has raised concerns over the bank's presence in Hungary, which threatens the security and sovereignty of the Hungarian people, their European neighbors, and their NATO allies. The tension in US-Hungarian relations also stems from the US embassy's financial support for a poster campaign drawing parallels between the '56 Hungarian revolution and the Ukrainian war against Russian aggression.

via Euronews|

#hungary #international-investment-bank #nato

politics3 years ago•3 min saved

US imposes new sanctions on Russian oligarchs and their financial networks.

The US and UK have imposed sanctions on 120 people and entities over Russia's war in Ukraine, including Russian oligarchs Alisher Usmanov and Roman Abramovich, and three officials of the Russian-controlled International Investment Bank in Hungary. The US Treasury has described Usmanov as having "at his disposal a wide network of businesses in financial safe havens and family members through which to conduct financial transactions, enabling him to potentially circumvent sanctions." The US and its allies will continue to work to "disrupt evasion schemes that support Putin on the battlefield."

via DW (English)|

#hungary #international-investment-bank #politics

politics3 years ago•3 min saved

US sanctions Russian-linked bank and warns Hungary over Moscow ties

The US has imposed sanctions on the International Investment Bank (IIB), a Hungary-based bank with ties to Russia, and three individuals affiliated with the bank's leadership. The IIB's presence in Hungary has drawn the ire of Western officials, who fear it could be used for Russian intelligence operations inside Europe. Hungary's relationship with the US has deteriorated significantly since the beginning of Russia's full-scale invasion of Ukraine, with Hungarian Prime Minister Viktor Orbán's moves to centralize power at home and build closer ties abroad with Moscow and Beijing causing concern among US officials.

via POLITICO Europe|

#hungary #international-investment-bank #nato