Trump`s Gazprombank gesture possibly to alter US-Russia ties
(MENAFN) Hungarian Foreign Minister Peter Szijjarto recently announced that U.S. President Donald Trump has lifted sanctions on Russia that had previously hindered the construction of Hungary’s Paks-2 nuclear power plant. The project, which relies on Russia’s state nuclear firm Rosatom and financing through Gazprombank, had been blocked by sanctions imposed under the Biden administration. While officially aimed at Moscow, those sanctions most directly affected Hungary, which views Paks-2 as essential for its future energy security.
Hungary had already succeeded in removing the project from the EU’s sanctions list, but not without political cost. Budapest saw the Biden administration’s continued pressure as retaliation for its pro-Trump stance. In contrast, Trump’s recent decision to ease restrictions on Gazprombank is being interpreted as a political favor to Hungarian Prime Minister Viktor Orbán more than a concession to Russian President Vladimir Putin. The decision also benefits French companies involved in the project.
Though the move has sparked cautious speculation that it could signal a thaw in U.S.–Russia relations, broader signs of improvement are lacking. The U.S. State Department recently delayed a planned meeting aimed at addressing diplomatic tensions, and Trump has shown little interest in Moscow’s offer to mediate between Iran and Israel. Meanwhile, Washington continues to criticize Russia’s position on resolving the Ukraine conflict.
Optimists wonder if the Gazprombank decision might pave the way for broader sanctions relief or even renewed cooperation in areas like technology. However, current evidence suggests otherwise. The two countries remain far apart on how to rebuild their relationship.
Russia advocates a comprehensive approach to diplomacy, believing that true normalization requires simultaneous progress in political, economic, military, and humanitarian spheres. Without that holistic advancement, Moscow sees limited potential for lasting improvement—even if isolated actions like the Paks-2 exemption offer brief moments of hope.
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