Latest news in Hungary - 18 Jan 2025

- EU Sanctions Standoff with Orbán: The EU is exploring alternatives to maintain €190 billion of frozen Russian assets amid Viktor Orbán's potential veto against extending sanctions on Russia. Diplomatic tensions are high as EU leaders seek Orbán’s support before sanctions expire on January 31. Read more here

- Hungary Boosts Cooperation with Kyrgyzstan: Hungary has announced a $34 million investment into a joint development fund with Kyrgyzstan, enhancing economic ties through initiatives in agriculture and water management. This comes in addition to the existing $16 million already in the fund, which has helped Hungarian companies enter the Kyrgyz market. Read more here

- Extended Deadlines for 1+1 Investment Support Program: The Hungarian Ministry of National Economy has extended the deadlines for the 1+1 investment support program to January 23, following significant technical issues. With a budget of 48 billion forints, the program received over 6,500 inquiries, indicating heightened interest in investments. Read more here

- Rising Fuel Prices Blamed on External Factors: Fuel prices in Hungary have surged, with gasoline reaching 637 forints per liter and diesel at 657 forints. The government cites geopolitical tensions, including the Ukrainian threat to oil supplies and American sanctions, as primary causes behind the increase. Read more here

- Orbán Addresses Energy Cooperation in Serbia: Prime Minister Viktor Orbán is in talks with Serbian President Aleksandar Vučić regarding energy supply issues and economic cooperation. Plans include new electricity and oil pipeline connections to bolster energy security between the two nations. Read more here

- Smoke Poisoning Incident at Eastern Railway Station: A locomotive fire at Budapest's Eastern Railway Station resulted in a railway worker needing hospitalization for smoke poisoning while rescuing over 30 passenger carriages. Thanks to swift actions, no passengers were harmed, and train services resumed shortly after. Read more here

- Hungarian Men's Handball Team Advances to Semifinals: The Hungarian men's handball team defeated Guinea 35-18, securing a spot in the World Championship semifinals. They currently sit second in their group, preparing for a match against the Netherlands as they aim for further success in the tournament. Read more here