Main Edition
US
FR
April 12, 2023 - 7:00pm
After frenzied speculation over recent days, predictions that the United States Government would introduce sanctions to pressure Hungary towards a more hostile stance towards Russia have come true.
In a press conference on Wednesday afternoon, US Ambassador to Hungary David Pressman announced sanctions on the Budapest-based International Investment Bank and its top executives. First created in the Soviet era, the bank was resurrected by Russia in 2012. Its headquarters were relocated from Moscow to Budapest in 2019, and since then it has been referred to as a “spy bank” due to American fears that it provides cover for Russian espionage activity in Europe.
Individual sanctions cover three senior figures at the bank: two Russians and one Hungarian. Pressman said the presence of the bank “threatens the security and sovereignty of the Hungarian people, its neighbours and Nato allies”.
Hungary is the only EU and Nato member state to have stayed in the bank since Russia’s invasion of Ukraine began. Despite the bank’s small scale — the sums it handles were described as “peanuts” by a former Hungarian government official — it has assumed outsized significance in the country’s foreign policy, symbolising Viktor Orbán’s emphasis on openness to economic cooperation with the east.
Fears that the bank facilitates spy activity are fuelled by allegations that its former chairman, who is included in the new sanctions, comes from a high-ranking Russian KGB family. But the sanctions also stem from a broader American impulse to pressure Hungary into ending cooperation with Moscow. Pressman cited US “concerns about the continued eagerness of Hungarian leaders to expand and deepen ties with the Russian Federation”, claiming cooperation funds Russia’s war machine.
This isn’t the first time that the US has sanctioned Hungarians — the Obama administration previously targeted individuals in Hungary over alleged corruption. But it’s the first time sanctions have been used with the purpose of altering Hungary’s geopolitical stance. Hungary reluctantly endorsed EU sanctions on Russia, but the US wants to make Budapest’s decoupling from Moscow more complete.
Join the discussion
Join like minded readers that support our journalism by becoming a paid subscriber
To join the discussion in the comments, become a paid subscriber.
Join like minded readers that support our journalism, read unlimited articles and enjoy other subscriber-only benefits.
SubscribeYet another indication that despite thier talk of “protecting democracy” the Western powers aren’t actually interested in democracy at all. What they really mean is “protecting secular liberalism”, and they’re perfectly happy to use authoritarian means to do so.
To be clear, Hungary’s law that keeps most sexual content away from kids is the issue here. It has ALWAYS been the issue. Everything else is a smokescreen for that.
I’m not even sure it’s “Western powers”; it’s the US. My sense is many Western countries are being dragged into US progressive policies because they feel they have little choice unless, like Hungary, they’re willing to alienate the Biden administration.
It’s a well-worn metaphor, but the US is now the emperor with no clothes with respect to the woke agenda. America has to force others into the unwilling suspension of disbelief regarding wokeness otherwise the US looks ridiculous and loses standing in the global community.
Many western countries are also increasingly questioning (behind closed doors) the wisdom of the US strategy in Ukraine. They are more openly questioning the US “us versus them” strategy regarding China. When the US is reduced to bludgeoning Hungary with sanctions we can all see the weakness in America’s global standing.
The EU is questioning US strategy in Ukraine, but remains completely on board pushing secular, liberal technocracy and maximal individual autonomy.
The EU is questioning US strategy in Ukraine, but remains completely on board pushing secular, liberal technocracy and maximal individual autonomy.
Right.
They sanction a bank friendly to the well-known Russian penchant of laundering their dirty money overseas…
And its all about corrupting kids!
Where have you been the last 30 years? And don’t you think turning Russian kids into little militant fascists might be a little…corrupt also?
Martin, you need to pay more attention. Many things in foreign policy aren’t really about what they appear to be.
EVERYTHING between the EU and Hungary is about whether kids can see gay porn and whether Johnny can be propagandized to believe he’s actually a girl.
I know that sounds absurd, but those are the values our Western ruling class has determined are sacred, so anyone who deviates must be punished as a heretic.
Martin, you need to pay more attention. Many things in foreign policy aren’t really about what they appear to be.
EVERYTHING between the EU and Hungary is about whether kids can see gay porn and whether Johnny can be propagandized to believe he’s actually a girl.
I know that sounds absurd, but those are the values our Western ruling class has determined are sacred, so anyone who deviates must be punished as a heretic.
I’m not even sure it’s “Western powers”; it’s the US. My sense is many Western countries are being dragged into US progressive policies because they feel they have little choice unless, like Hungary, they’re willing to alienate the Biden administration.
It’s a well-worn metaphor, but the US is now the emperor with no clothes with respect to the woke agenda. America has to force others into the unwilling suspension of disbelief regarding wokeness otherwise the US looks ridiculous and loses standing in the global community.
Many western countries are also increasingly questioning (behind closed doors) the wisdom of the US strategy in Ukraine. They are more openly questioning the US “us versus them” strategy regarding China. When the US is reduced to bludgeoning Hungary with sanctions we can all see the weakness in America’s global standing.
Right.
They sanction a bank friendly to the well-known Russian penchant of laundering their dirty money overseas…
And its all about corrupting kids!
Where have you been the last 30 years? And don’t you think turning Russian kids into little militant fascists might be a little…corrupt also?
Yet another indication that despite thier talk of “protecting democracy” the Western powers aren’t actually interested in democracy at all. What they really mean is “protecting secular liberalism”, and they’re perfectly happy to use authoritarian means to do so.
To be clear, Hungary’s law that keeps most sexual content away from kids is the issue here. It has ALWAYS been the issue. Everything else is a smokescreen for that.
Joe Biden and the United States – the great defenders of democracy. Just an awful abuse of power by an awful president and his administration, Anyone anywhere aligned with the Republicans is a target for these fascists.
Joe Biden and the United States – the great defenders of democracy. Just an awful abuse of power by an awful president and his administration, Anyone anywhere aligned with the Republicans is a target for these fascists.
This is the United States sanctioning a NATO state. Not to say an EU one. The Wagner Group had no intention of ceding to the Russian Federation the territory that it had captured in Ukraine, or in Africa, or anywhere else, while Ukraine’s calling in of Poland and Hungary would end in the Polish reunification of Galicia, in the Hungarian reincorporation of Carpathian Ruthenia, in the “reluctant” acceptance of existing losses to Russia or Wagner, and in the imposition of a NATO protectorate and an EU vassal in the form of a landlocked rump state around Kiev.
That state might even simply be called Kyiv, in the way that Luxembourg, the capital of which is also called Luxembourg, is called Luxembourg. But this one would be a bigger version of the NATO protectorate and EU vassal of Kosovo, which is the source of many of the illegal firearms on British streets, and which is a centre of heroin-trafficking and of the people-trafficking in which Ukraine is already globally important. For a quarter of a century, boys in the never unfailed state of Kosovo have been called Tonibler. No doubt boys in the never unfailed state of Kyiv will be called Borisjohnson. Or, if anything even worse, Keirstarmer.
This is the United States sanctioning a NATO state. Not to say an EU one. The Wagner Group had no intention of ceding to the Russian Federation the territory that it had captured in Ukraine, or in Africa, or anywhere else, while Ukraine’s calling in of Poland and Hungary would end in the Polish reunification of Galicia, in the Hungarian reincorporation of Carpathian Ruthenia, in the “reluctant” acceptance of existing losses to Russia or Wagner, and in the imposition of a NATO protectorate and an EU vassal in the form of a landlocked rump state around Kiev.
That state might even simply be called Kyiv, in the way that Luxembourg, the capital of which is also called Luxembourg, is called Luxembourg. But this one would be a bigger version of the NATO protectorate and EU vassal of Kosovo, which is the source of many of the illegal firearms on British streets, and which is a centre of heroin-trafficking and of the people-trafficking in which Ukraine is already globally important. For a quarter of a century, boys in the never unfailed state of Kosovo have been called Tonibler. No doubt boys in the never unfailed state of Kyiv will be called Borisjohnson. Or, if anything even worse, Keirstarmer.
The American Empire is and always shall be a threat to European nations.
The American Empire is and always shall be a threat to European nations.
Too much performative hysteria on parade here. Its not all about gays or US hegemony, there’s also Orban’s suppression of democratic structures and traditions to be taken into account. I suspect a lot of the Orban love in talk comes from people who applaud that kind of development in the UK and US.
Too much performative hysteria on parade here. Its not all about gays or US hegemony, there’s also Orban’s suppression of democratic structures and traditions to be taken into account. I suspect a lot of the Orban love in talk comes from people who applaud that kind of development in the UK and US.
I was a big fan of Orban when he was fighting the EU on trying to force leftist values on Hungary. His reaction to the invasion of Ukraine, however, has been shameful. How can a small country entirely dependent on NATO for its defense, side with the aggressor here? It’s shameful.
The Polish Gov’t is just as socially conservative as Orban (if not more so) but has been a leader in defending Ukraine. Orban should look at Poland and be very ashamed of himself.
Orban understands the neocons, you don’t
The Neo-cons aren’t the one’s pressing progressive nonsense on Eastern Europe. If not for NATO (and esp. the US), Hungary would find itself back under Russian domination in short order.
I MUCH, MUCH rather be governed by the Neo-cons than Putin’s regime. Anyone who says they wouldn’t is a fool or a liar.
Neo-cons are progressive and their warmongering is for progressive ends. A cursory investigation of neo-conservatism’s aims and origins may well surprise you.
Stop spreading the myth that Russia wants to take over the whole of Eastern Europe.
The Soviet Union has long gone.
Neo-cons are progressive and their warmongering is for progressive ends. A cursory investigation of neo-conservatism’s aims and origins may well surprise you.
Stop spreading the myth that Russia wants to take over the whole of Eastern Europe.
The Soviet Union has long gone.
The Neo-cons aren’t the one’s pressing progressive nonsense on Eastern Europe. If not for NATO (and esp. the US), Hungary would find itself back under Russian domination in short order.
I MUCH, MUCH rather be governed by the Neo-cons than Putin’s regime. Anyone who says they wouldn’t is a fool or a liar.
He isn’t siding with the Russians. He’s simply not jumping on the sanctions bandwagon.
Have you looked at where Hungary’s natural gas comes from? If Orban were to go along with the sanctions, he would have to get all his natural gas from the West, which has made it clear they hate him.
Orban isn’t a fan of Putin, but he’s also not a fan of freezing in the dark. And make no mistake, the EU would happily let Hungary freeze in the dark just to make sure Hungarian kids get to see gay pornos. (Just writing that is insane — we really do live in clown world.)
Good and important distinction. Concur. Orban wants it all ways
Orban really a corporatist not a free market conservative.
Hungary/Orban really likes to make a point of its independence
Hungary is land-locked so would have to get its gas from the West if it booted supply from Russia.
Orban probably more secure than Polish govt which is only just ahead in soon-to-be-had election.
Heard anything from EU about Polish judicial reform?
Obviously LGBTQ stuff etc.
A point that’s not often made is the friction between Ukraine/Hungary over the fact that part of Ukraine as it is now used to be in Hungary and there are still quite a number of ethnic Hungarians in Ukraine.
Russia is not the aggressor.
The Ukraine conflict was engineered by the US State Department, NATO, the UK and the EU.
Do some research, go back to 2014 and work forward.
Orban understands the neocons, you don’t
He isn’t siding with the Russians. He’s simply not jumping on the sanctions bandwagon.
Have you looked at where Hungary’s natural gas comes from? If Orban were to go along with the sanctions, he would have to get all his natural gas from the West, which has made it clear they hate him.
Orban isn’t a fan of Putin, but he’s also not a fan of freezing in the dark. And make no mistake, the EU would happily let Hungary freeze in the dark just to make sure Hungarian kids get to see gay pornos. (Just writing that is insane — we really do live in clown world.)
Good and important distinction. Concur. Orban wants it all ways
Orban really a corporatist not a free market conservative.
Hungary/Orban really likes to make a point of its independence
Hungary is land-locked so would have to get its gas from the West if it booted supply from Russia.
Orban probably more secure than Polish govt which is only just ahead in soon-to-be-had election.
Heard anything from EU about Polish judicial reform?
Obviously LGBTQ stuff etc.
A point that’s not often made is the friction between Ukraine/Hungary over the fact that part of Ukraine as it is now used to be in Hungary and there are still quite a number of ethnic Hungarians in Ukraine.
Russia is not the aggressor.
The Ukraine conflict was engineered by the US State Department, NATO, the UK and the EU.
Do some research, go back to 2014 and work forward.
I was a big fan of Orban when he was fighting the EU on trying to force leftist values on Hungary. His reaction to the invasion of Ukraine, however, has been shameful. How can a small country entirely dependent on NATO for its defense, side with the aggressor here? It’s shameful.
The Polish Gov’t is just as socially conservative as Orban (if not more so) but has been a leader in defending Ukraine. Orban should look at Poland and be very ashamed of himself.