Hungary Signs Secret Paks II Nuclear Deal With Russia's Rosatom

On January 14, 2014, during a state visit to Moscow, Viktor Orbán signed a deal with Russia's Rosatom state nuclear company to expand the Paks nuclear power plant — which provides approximately 50% of Hungary's electricity — with two new VVER-1200 reactors at a total contract value of €12.5 billion, with 80% financed by a €10 billion Russian state loan. The deal was negotiated in secret and its terms were classified for 30 years. Critics argued it created a multi-decade strategic dependency on Russia. Construction of Unit 5 began with the first concrete pour on February 5, 2026.