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Parliamentary questions
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21 February 2019
E-000962-19
Question for written answer E-000962-19
to the Commission
Rule 130
Péter Niedermüller (S&D)

 Subject:  Establishment of the headquarters of the International Investment Bank in Hungary
 Answer in writing 

On 7 February 2019, draft bill No T/4476 proclaiming the Agreement between the International Investment Bank and the Government of Hungary on the Headquarters of the International Investment Bank in Hungary was submitted to the Hungarian Parliament.

Pursuant to the draft, the headquarters of the International Investment Bank (IIB), which was once the bank of COMECON, will move from Moscow to Budapest. The bank’s foreign employees will be able to work under the same conditions as diplomats and will receive tax and social security exemptions. In addition, the IIB can appoint or invite as a guest whoever it likes, with no restrictions and irrespective of nationality. The Government will immediately issue the necessary entry documents.

The IBB will not be subject to financial or regulatory supervision or audits, nor will it have to apply audit standards or comply with authorisation or registration obligations.

In light of the above I would like to ask the Commission the following:
1. Does it consider the establishment in the EU of a bank which is clearly under Russian influence and as an international institution is exempt from EU banking supervision and might constitute a legal loophole to avoid economic sanctions imposed on Russia to be acceptable?
2. In the Commission’s opinion, does the fact that the bank’s non-Hungarian employees can enjoy diplomatic immunity and that their invited guests can receive entry permits to the EU with no checks represent a security risk for the European Union?
Original language of question: HU 
Last updated: 6 March 2019Legal notice