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Parliamentary questions
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4 March 2019
Question for written answer E-001140-19
to the Commission
Rule 130
Ramon Tremosa i Balcells (ALDE) , Thierry Cornillet (ALDE) , Caroline Nagtegaal (ALDE) , Petr Ježek (ALDE)

 Subject:  Headquarters of the International Investment Bank (IIB) in Budapest
 Answer in writing 

The Hungarian Parliament recently debated an international agreement under which the Russia-based International Investment Bank (IIB) would move its headquarters to Budapest. Under that agreement, it would be granted privileges and immunities in accordance with its status as a treaty-based international development bank(1) (2).

While the Russian state is the bank’s largest shareholder, a small number of EU Member States collectively hold most of the bank’s capital. Although Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine does not apply to the IIB, it does raise concerns over the bank’s policies on competition and money laundering.

Are privileges granted to a single entity compatible with EC law?

Are such privileges compatible with the EU anti-money laundering framework?


Last updated: 2 April 2019Legal notice