Hungary To Exit Russian-Controlled International Investment Bank After U.S. Sanctions

A day after the United States imposed sanctions on three Hungarian officials, Budapest said it will withdraw its representatives from the Russia-led International Investment Bank (IIB) and exit the institution. The Hungarian Economy Ministry said on April 13 that the government had concluded that the bank's operations had become meaningless as a result of the U.S. sanctions. On April 12, Washington slapped sanctions on three top Hungarian IIB officials after it said Budapest had ignored U.S. concerns over the "opaque Kremlin platform." To read the original story by RFE/RL’s Hungarian Service, click here.