Hungary’s newly elected leader, Péter Magyar, announced plans to engage with Russian President Vladimir Putin if contacted, though he clarified he would not initiate the conversation. In his first news conference following a decisive victory over Viktor Orbán, a known Putin ally, Magyar stated, ‘If Vladimir Putin calls, I’ll pick up the phone.’ He added that while he would urge Putin to end the conflict in Ukraine, he acknowledged, ‘It would probably be a short phone conversation and I don’t think he would end the war on my advice.’
Shift in Hungary’s Stance
Magyar’s election marks a significant shift in Hungary’s foreign policy, particularly regarding Russia. He plans to review and potentially renegotiate Hungary’s Russian energy contracts, signaling a move away from Orbán’s pro-Kremlin stance. Ukraine welcomed Magyar’s victory, seeing it as a step toward securing a €90 billion loan from the EU, which Kyiv urgently needs to fund its defense against Russia.
‘We’re trying to walk on a razorblade,’ said Andriy Pyshnyi, Ukraine’s central bank governor, referencing the inflationary pressures exacerbated by the war in the Middle East.
Economic and Military Developments
Ukraine’s central bank remains committed to lowering inflation to 5% within three years, despite rising oil prices that could push inflation rates higher. Meanwhile, Ukraine’s military continues to target Russian infrastructure, with recent drone strikes hitting a chemicals plant in Cherepovets, a facility crucial for producing munitions components.
In international sports, World Aquatics announced that Russian and Belarusian athletes will be allowed to compete under their flags and anthems, reversing a ban imposed after Russia’s invasion of Ukraine in 2022.