Hungary to challenge EU decision on phasing out Russian energy imports

Hungary confirmed that oil flows from Russia through the Druzhba oil pipeline have continued despite a recent attack attributed to Ukraine. This development underscores the resilience of energy supply routes amid ongoing geopolitical tensions.

The European Union (EU) is taking steps to enhance its defenses against economic threats, particularly in light of recent export restrictions imposed by China. This initiative reflects the EU's growing concerns about its reliance on Chinese imports and aims to bolster its economic resilience in a shifting global landscape.

Brussels is proposing emergency powers to raise €210 billion from frozen Russian assets to fund Ukraine, marking a significant shift in EU financial strategy amid ongoing conflict. This initiative aims to provide critical support to Ukraine's defense and recovery efforts as it faces persistent challenges from Russia.

The European Union has introduced a €3 billion strategy aimed at reducing its reliance on China for critical raw materials, particularly rare earth metals. This initiative, known as the ReSourceEU program, is designed to diversify and de-risk supply chains amid increasing geopolitical tensions and supply vulnerabilities exacerbated by China's control over these essential resources.

The European Union's decision to ban Russian gas imports by 2027 is not expected to significantly impact global markets, according to analysis from Capital Economics. The Dutch TTF contract remained stable, indicating a lack of immediate market disruption following the announcement.

The European Union's single market faces significant challenges due to small, often overlooked barriers to trade, which impact businesses across the continent, exemplified by the case of Ikea's products. These barriers hinder the seamless flow of goods and services, raising concerns about the effectiveness of the single market in promoting economic integration.

Federica Mogherini, the former diplomatic chief of the EU, has been detained by police in Brussels amid an investigation into alleged fraud related to contract awards. This development raises significant concerns regarding accountability and governance within the EU's administrative framework.

Hungary's GDP stagnated in the third quarter of 2025, showing only modest yearly growth. This stagnation reflects ongoing economic challenges within the country, as it grapples with various domestic and international pressures impacting its economic performance.