France aims to buy four Global Eye military aircraft, Sweden says
FILE PHOTO: Sweden's Minister of Defence Pal Jonson speaks at the IISS Shangri-La Dialogue security summit in Singapore, June 1, 2025. REUTERS/Edgar Su/File photo
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Putin says he is ready to talk with Germany's Merz
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Hungary discussing business deal with US to counter tariff impact
FILE PHOTO: U.S. President Donald Trump greets Hungary's Prime Minister Viktor Orban in the Oval Office at the White House in Washington, U.S., May 13, 2019. REUTERS/Carlos Barria/File Photo LONDON (Reuters) -Hungary and the United States are discussing a business deal that could involve cooperation in the space industry and military capabilities, a Hungarian official said on Wednesday, aiming to offset the impacts of potential U.S. tariffs. Hungarian foreign ministry state secretary Levente Magyar provided details of the talks on Wednesday, stating that while a swift agreement is not anticipated, they hoped to reach agreement on energy, space and military projects. "We are talking about a few specific projects that could be enveloped into such an agreement," Magyar told Reuters on the sidelines of an event at the Hungarian embassy London. "There's a lot of room for working together." "We very much hope that big things can be done for the benefit of the Hungarian people," Magyar said, without providing a timeline as the U.S. administration currently has "a lot on their hands". Hungarian Prime Minister Viktor Orban, an ally of Trump, said in April that Hungary expected to sign a business deal with the U.S. in six months. Without providing further detail, Orban said "tariffs will be negative for us but we negotiate about other economic deals to offset those (tariffs)". European Union member Hungary's car industry is a key driver of its economy but faces a potential hit from U.S. tariffs while the country contends with a slower than expected economic recovery and tries to curb inflation ahead of 2026 elections. Magyar acknowledged Hungary would not be able to have a separate trade deal with the U.S. given its obligations as a EU member state but that they still hoped to reach a business deal. Trump backed away from his threat to impose 50% tariffs on imports from the EU this month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. (Reporting by Catarina Demony in London; Editing by Lisa Shumaker)
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3 hours ago
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Separatist Moldovan region facing crisis without Russian gas, minister says
FILE PHOTO: Pedestrians cross a road in Tiraspol, Moldova's breakaway region of Transdniestria, January 4, 2025. REUTERS/Vladislav Bachev/File Photo CHISINAU (Reuters) -Moldova's pro-Russian separatist Transdniestria region faces a dire economic crisis triggered by this year's halting of gas supplies from Russia and a collapse in industrial and farm production, a senior minister in the enclave said on Wednesday. WHY IT'S IMPORTANT Moldova's pro-European President Maia Sandu has warned that Russia could use instability in Transdniestria to sow chaos and influence a September election to secure a parliament and government more favourable to Moscow. Sandu is seeking European Union membership by 2030. KEY QUOTES "Forecasts for Transdniestria's economy are not encouraging, based on uncertainty over gas supplies, a lack of a contract on power exports from the thermal plant and the fact that major industrial plants are idle," Economic Development Minister Sergei Obolonik told a government session on Wednesday. "There remains a risk that Moldova could introduce new sanctions and restrictive regulations," he said, according to local media. CONTEXT Transdniestria broke from Soviet Moldova in 1990. Other than a brief 1992 conflict, it has lived alongside the rest of the now-independent state with little upheaval for more than 30 years thanks largely to assistance provided by Moscow. But Russia halted supplies of virtually free gas in January after Ukraine shut a transit pipeline. Separatist authorities secured alternative gas through a Hungarian supplier with Russian funding, but that supply has proved insufficient to keep the economy afloat. BY THE NUMBERS Obolonik forecast a 12% drop in gross domestic product in the second half of the year from a year ago, a 30% plunge in industrial output, a 6% slide in agricultural production, a 20% slide in foreign trade and inflation of 16%. Improvement next year, he said, depended on finding reliable gas sources and on Moldova introducing no punitive measures. "We can expect no real growth in the economy," Obolonik said. "The best scenario is for indicators to remain at this year's levels." (Reporting by Alexander Tanas, writing by Ron Popeski, Editing by Rosalba O'Brien)
