Hungarian state loans were used for Russian projects, now they are sitting on billion-dollar liabilities

The Pólus Kereskedelmi Pénzügyi és Szolgáltató Kft. has significant debts despite low revenues, raising concerns about its financial stability and the nature of its Russian projects. The company, primarily exporting medical equipment to Russia, has received state-backed export loans, but details on the loans and their repayment remain unclear. The firm has a complex ownership structure, including ties to Russian interests, and has faced multiple enforcement actions. Questions persist regarding the actual Hungarian value added in these transactions and the risks posed to taxpayers due to the state’s involvement in financing these projects.