New Agreement Set to Develop Nuclear Cooperation and Sustainable Energy
The Hungarian government has long relied on Russia for support in maintaining its Soviet union era reactors at the Paks Nuclear Power Plant for years. This agreement will build off of the previous memorandum of understanding that was developed in order to formalize negotiations between the two countries for future nuclear cooperation in terms of civil nuclear energy, including small modular reactors and the management of nuclear fuel.

According to the U.S. State Department, based on current estimates, the Agreement appears poised to give over 20 years of collaboration and nuclear power development, potentially establishing Hungary as a site for the regional development of small modular reactors and supporting the use of U.S.-manufactured nuclear products; therefore, enhancing and strengthening both energy security and strategic partnerships throughout Central Europe.

As a result of the Agreement, Hungary will be able to purchase uranium fuel from U.S.-based suppliers for the first time. An additional venture between Holtec International (a U.S. manufacturer) and Hungary will develop a process through which Holtec can assist with spent fuel storage and disposal practices. As described by Hungarian Foreign Minister Péter Szijjártó, the current agreement assists with improving the long-term sustainability and independence of Hungarian energy resources, while providing price-for-the-country security.

At the same time, Hungary is currently continuing to develop nuclear capabilities, including those offered through the Russian-owned Paks II project, while continuing to construct and extend two existing reactors already at the Paks Nuclear Power Plant and to increase electricity output by 2400 Megawatts to support Hungary's increasing reliance upon nuclear power.

The Political Relevance of the Agreement
This agreement has come just as Hungary is preparing for their next parliamentary elections, which are scheduled to be held on April 12, 2019. The political aspect of the agreement and attending the press conference was further emphasized by Mr. Rubio, who reiterated that the current President Donald Trump continues to support Mr. Orbán strongly. In return, Mr. Orbán expressed his gratitude towards President Trump and commented on how significant a change this New Nuclear Age will be for the United States and Hungary.

President Trump had expressed his public support for Mr Orbán as being a strong and effective leader, recently stating, "U.S. Administration is still showing their support for many countries that have elected to continue to work with Conservative Governments throughout the world".

Mr. Orbán's Fidesz Party has been in power in Hungary since 2010, and is now facing a challenge from a centre-right opposition party, the Tisza Party, which is being led by former ally Péter Magyar. The Tisza Party has stated that it would supply chains by eradicating corruption, implementing procedures to reclaim frozen European Union funds, improving Hungary's standing within the European Union and NATO, and reducing Hungary's reliance upon Russia.

Mr. Orbán has gone against many of the policies that were related to European Nations throughout his tenure and has recently been supportive of Russia during its Aggression in its ongoing conflict with Ukraine. A recent survey completed by the Idea Institute reflects that 48% of individuals who voted for the Tisza Party, while 38% supported the Fidesz Party, support the competitive political environment of Hungary leading into the elections.