US issues license allowing some transactions with Hungarian nuclear power plant project

Nov 21 (Reuters) - The United States on Friday issued a Russia-related general license allowing certain transactions with the Paks II civil nuclear power plant project in Hungary, according to the Treasury Department website.

The license allows exceptions to U.S. sanctions on the project being built by Russia over Moscow's war on Ukraine. It allows transactions linked to the nuclear power plant project involving some Russian banks, including Gazprombank, VTB Bank, and the Russian central bank, the Treasury Department notice showed.

The move came after Hungary signed an agreement this month on nuclear power cooperation with the United States as President Donald Trump met with Hungarian Prime Minister Viktor Orban.

Under the deal, Hungary will buy American nuclear fuel and U.S. technology to store spent fuel at an existing plant, known as Paks I.