The head of Hungary’s Paks II nuclear power station project said a recent guarantee that the project will be exempt from sanctions means European companies can focus on what is important for a nuclear supplier – the production of key components and quality assurance.

Gergely Jákli, chairman and chief executive officer of state company Paks II, said the decision is “an important signal for EU and Hungarian suppliers”.

He said: “This is an important step forward, which clearly shows all potential European suppliers that measures taken by the EU will not affect the supply of any given product or service to Paks II.”