Péter Szijjártó reminded that the sanctions that have now been lifted were implemented by the previous administration led by Joe Biden, which viewed Hungary as an enemy. MTI, citing the ministry’s statement, wrote that prior to Donald Trump’s presidency the United States made a number of decisions on political grounds that placed our country in an extremely difficult situation. – With one of these sanctions they tried to undermine Hungary’s long-term secure energy supply by introducing restrictions related to the construction of the Paks II. nuclear power plant, which practically made it impossible for the project to continue – said the Minister of Foreign Affairs and Trade.

– Fortunately, since January, there has been a president in Washington in the White House who views Hungary as a friend. In this spirit, the US government has lifted the sanctions related to the Paks nuclear power plant project. For this reason, we are grateful to President Donald Trump and we are grateful to the Republican administration. The Paks project guarantees Hungary’s secure long-term energy supply and the preservation of reduced utility costs – added Péter Szijjártó.

The minister emphasized that with the Paks expansion, Hungary would be able to produce a large part of the electricity needed to run the country and the economy itself from the middle of the next decade. – This ensures that we can take our energy supply into our own hands in the long-term, and we can guarantee that the Hungarian people pay the lowest utility bills in Europe in the long-term – emphasized the Minister.

Renewed momentum behind nuclear energy has the potential to open a new era for the secure and clean power source as demand for electricity grows at an unprecedented rate, says IEA in the report published in mid-January 2025. The report, The Path to a New Era for Nuclear Energy, provides a comprehensive assessment of the current situation, identifying the major challenges facing nuclear sector.

The strong comeback for nuclear energy that the IEA predicted several years ago is well underway, with nuclear set to generate a record level of electricity in 2025,” highlighted IEA Executive Director Fatih Birol. “In addition to this, more than 70 gigawatts of new nuclear capacity is under construction globally, and more than 40 countries around the world have plans to expand nuclear’s role in their energy systems”, according to the study published on the international organisation's website.

According to the report, nuclear power today produces just under 10% of global electricity supply (ed. 24% in Europe). The increasing use of electricity – to power everything from industry and air conditioning to electric vehicles and data centres amid the rise of artificial intelligence – is accelerating the growth in power demand. New generation capacity from a range of technologies will be needed to keep pace with the rapid demand growth, including those that can provide firm and flexible output such as nuclear.

The study also points that the comeback of nuclear energy requires stable financing, reliable and diversified supply chains for building and fuelling. IEA highlights that the private sector is increasingly viewing nuclear energy as an investible energy source with the promise of firm, competitive, clean power that can serve energy-intensive operations 24/7.