US sanctions Russia-linked investment bank in Hungary

US Treasury

The US Treasury Department sanctioned Budapest-based International Investment Bank, a Russian-supported multilateral lender, on April 12, describing it as a conduit for Russian intelligence, sanctions evasion and “malign influence activities in central Europe and the western Balkans”.

In response, Hungary announced on April 13 that it would withdraw from the ban, with a government statement saying “there was no sense in carrying on with its operations following the US sanctions”. Prime minister

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