The USA and Hungary reached a number of agreements in the field of nuclear energy and the purchase of American oil. This was announced by the office of US Vice President J. D. Vance after his visit to Budapest.
The Hungarian company MOL has purchased 510,000 barrels of crude oil from American energy companies for a total value of about 500 million USD. In addition, the USA and Hungary confirmed their intention to cooperate on small modular reactors. We are talking about the possibility of Hungary building up to 10 small modular reactors with a potential cost of up to 20 billion USD. Finally, a memorandum of understanding was signed on the purchase of nuclear fuel from the American company Westinghouse for the Paks 1 nuclear power plant for the entire period of its operation.
The fuel for this nuclear power plant in Paks, built by Russian specialists back in the 1980s, is supplied by the TVEL company from the Rosatom structure. However, in Hungary, the possibility of using alternative nuclear fuel instead of Russian is legally enshrined there. Budapest believes that, given the introduction of various sanctions against Moscow by the European Union, it is necessary to play it safe and provide for options for replacing fuel from Russia.