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Hungary has seized €35-40 million of Ukrainian money that is supposed to be transferred in a Raifeissen Bank transfer under an interbank agreement. Ukraine accusing Hungary of theft.
Reports Trump has just granted India a 30 day waiver to buy Russian oil. Its probably one of his measures to increase supply to stem the rise in the oil price - caused by the war in Iran.
I'd be very wary if I was Ukraine providing anti-drone assistance to the US - do you (a) trust them the reciprocate through gratitude? or (b) trust them not to either steal the Ukrainian IP or 'accidentally' allow it to find its way to Moscow.
F**k the US right now would be my attitude. The EU and UK are perfectly right to be distancing themselves as much as diplomatically possible from TACO and Bibi's illegal war.
An absolute cancer on the EU.
Cuts announced in wealthy Moscow regions investment budget. Exposes strain the war is taking on Russian economy.
…"Results for the first two months show revenue growth slowed to 2%, below the 6.5% planned when drafting this year's budget," Sobyanin said, announcing a 10% cut in 2026 investments from 1.2 trillion roubles ($15.3 billion), and a 15% reduction in municipal staff. Moscow's revenues are projected at about 6 trillion roubles in 2026, or more than 2% of Russia's GDP. Many Russian companies are headquartered in the capital and pay taxes there, a long-running source of criticism from poorer regions.REGIONS PUSHED INTO COSTLIER BORROWINGRussian officials tout the federal budget's relatively moderate deficit and debt, backed by the National Wealth Fund, as a key buffer against Western sanctions, but a broader measure that includes regional balances shows a weaker picture.Russia's consolidated budget deficit, which combines federal and regional accounts, widened in 2025 to 8.3 trillion roubles, or 3.9% of GDP, 2.6 times larger than in 2024, well above a 2.6% deficit at the federal level…."While state-level debt appears to be under control, the government is in effect pushing regions towards more expensive borrowing from commercial banks," a banking source told Reuters, speaking on condition of anonymity.Even so, the central government is preparing a major austerity programme aimed at preventing the fiscal reserve fund from being depleted next year.REVENUE GROWTH SLOWSData obtained by Reuters showed the share of concessional loans from the federal budget in regional debt fell to 67% last year from 78% in 2024, while the share of costlier commercial bank debt surged threefold.Oil and gas taxes that have been falling in recent months, and value-added tax, widely seen as the most stable revenue stream, account for the bulk of federal income……..In a late-2025 report, Russia's Audit Chamber linked the rise in regional deficits to weaker corporate profits, which fell 5.5% in January-November 2025, according to official statistics. The number of deficit-running regions rose to 74 in 2025 from 50 in 2024. Total regional spending increased 9% to 24.1 trillion roubles, while revenues rose 4% to 22.6 trillion.Only four of Russia's 89 regions are expected to post budget surpluses this year, according to estimates from ratings agency Expert RA.
…"Results for the first two months show revenue growth slowed to 2%, below the 6.5% planned when drafting this year's budget," Sobyanin said, announcing a 10% cut in 2026 investments from 1.2 trillion roubles ($15.3 billion), and a 15% reduction in municipal staff.
Moscow's revenues are projected at about 6 trillion roubles in 2026, or more than 2% of Russia's GDP. Many Russian companies are headquartered in the capital and pay taxes there, a long-running source of criticism from poorer regions.
REGIONS PUSHED INTO COSTLIER BORROWING
Russian officials tout the federal budget's relatively moderate deficit and debt, backed by the National Wealth Fund, as a key buffer against Western sanctions, but a broader measure that includes regional balances shows a weaker picture.
Russia's consolidated budget deficit, which combines federal and regional accounts, widened in 2025 to 8.3 trillion roubles, or 3.9% of GDP, 2.6 times larger than in 2024, well above a 2.6% deficit at the federal level….
"While state-level debt appears to be under control, the government is in effect pushing regions towards more expensive borrowing from commercial banks," a banking source told Reuters, speaking on condition of anonymity.
Even so, the central government is preparing a major austerity programme aimed at preventing the fiscal reserve fund from being depleted next year.
REVENUE GROWTH SLOWS
Data obtained by Reuters showed the share of concessional loans from the federal budget in regional debt fell to 67% last year from 78% in 2024, while the share of costlier commercial bank debt surged threefold.
Oil and gas taxes that have been falling in recent months, and value-added tax, widely seen as the most stable revenue stream, account for the bulk of federal income……..
In a late-2025 report, Russia's Audit Chamber linked the rise in regional deficits to weaker corporate profits, which fell 5.5% in January-November 2025, according to official statistics.
The number of deficit-running regions rose to 74 in 2025 from 50 in 2024. Total regional spending increased 9% to 24.1 trillion roubles, while revenues rose 4% to 22.6 trillion.
Only four of Russia's 89 regions are expected to post budget surpluses this year, according to estimates from ratings agency Expert RA.
….
Orban, the highwayman of Europe. Along with the €35 million in cash there was 9 kg of gold bullion.
The poor guy needs to feather his nest before, if he can't contrive an election steal, he's booted out of office next month.
Wonder why they chose Hungary to drive through, probably much lower risk options through Czech Republic and Poland
Geography tends to pick your route for you. Realistically a direct and shortest route is either via Hungary or Slovakia and I'd suspect there's likely a Hungarian motorway that makes it preferable to Slovakia.
A Hungarian politician is trying to excuse their actions by suggesting Ukraine is engaged in something illegal, basing that on figures of hundreds of millions in cash transported in Jan. and nearly 150 kg of gold, so this route and such transfers are routine, so there is no precedent to suggest this route was in any way dangerous as it's used frequently.
Hungary is in the EU, there isn't supposed to be the slightest hint of it being bandit country or there being a need to take alternative routes to avoid it.
Norms of international law and diplomacy are being abandoned. It's every man for himself, do whatever you can get away with. Russia of course were a big part of moving the world in this direction, but USA, Israel and other countries are just as responsible. Shooting drug boats, siezing ships, kidnapping leaders in the night.
Dangerous times.
35M€, 40M$ and 9kg of gold.
Absolutely ridiculous and serious punitive action is needed.
https://www.reuters.com/world/ukraine-accuses-hungary-taking-hostage-bank-employees-who-were-carrying-82-2026-03-06/
This story is really getting legs. Anything involving gold usually does.
The Hungarian Tax Authority's decision to have counter-terrorism forces swoop on two Ukrainian armoured vehicles transporting cash to Ukraine marks a dramatic escalation of tensions that have already resulted in Budapest blocking tens of billions of euros in European Union aid for Kyiv."The National Tax and Customs Administration (NAV) is pursuing criminal proceedings on suspicion of money laundering," the authority said in a statement.
The Hungarian Tax Authority's decision to have counter-terrorism forces swoop on two Ukrainian armoured vehicles transporting cash to Ukraine marks a dramatic escalation of tensions that have already resulted in Budapest blocking tens of billions of euros in European Union aid for Kyiv.
"The National Tax and Customs Administration (NAV) is pursuing criminal proceedings on suspicion of money laundering," the authority said in a statement.
There are two catch-alls governments never tire of using to justify the unjustifiable - terrorism and money laundering.
I'm failing to see how a transit of cash between two banks, in foreign countries, can be construed as money laundering in Hungary such that it deprived the Hungarian government of tax receipts. The Hungarian government only has legal jurisdiction over events in Hungary, so even if there was any illegality, it would have taken place outside their jurisdiction. Neither cash nor gold would be subject to taxation by Hungarian authorities in transit, so to say they are making things up as they go, would be putting it mildly.
The EU should not sit this one out, as is their usual pathetic response to shit in Hungary.
Yes and Trump asking the Kurds to fight for him against the Iranians in northern Iran. Didn't the US abandon their former allies in Iraq not so long ago?
Krasnov will blame Zelensky.
Orban is a two faced coward. All talk but he knows his entire economy relys on being in the EU and so do the equally cowardly people whi support him.
Hungary and Slovakia could make it very difficult for Ukraine to join the EU.
To be fair i think this was always going to happen. Russians probably say well US provided data to Ukraine about targets to hit against them there thinking payback. More wondering what will the US response be to it.
They make for great underwater reefs long term and usually result in a rich hub of biodiversity wherever they lie?
Could be something to this or maybe they're stockpiling for the summer offensive. I wouldn't be surprised if they diverted many to Iran early on but I can't see them continuing it for what now looks like a lost cause. I wonder has anyone tracked ship movements in the Caspian.
More likely something to do with Ukraine recently destroying their stockpiles of drones and a chunk of their missile launching capabilities, e.g. the warships in Novorossiya.
What happened the "only specialised plant"?
Mandatory use of Russian fiber optics may be postponed for two years.The Ministry of Industry and Trade proposes to postpone for two years the requirements for the mandatory use of Russian fiber in cable. The restoration of fiber production in Russia is not expected until 2028 due to the shutdown of the only specialized plant. Market participants are talking about a significant increase in the price of foreign raw materials due to high demand.
Mandatory use of Russian fiber optics may be postponed for two years.
The Ministry of Industry and Trade proposes to postpone for two years the requirements for the mandatory use of Russian fiber in cable. The restoration of fiber production in Russia is not expected until 2028 due to the shutdown of the only specialized plant. Market participants are talking about a significant increase in the price of foreign raw materials due to high demand.
From:
https://www.kommersant.ru/doc/8480248
Looks like the US treasury are going to lift the sanctions on Russian oil due to the shortages caused by Krasnovs miscalculation.
What a disaster and blow for Ukraine.
Krasnov strikes again.
https://www.reuters.com/business/energy/us-could-lift-sanctions-more-russian-oil-says-bessent-2026-03-06/
He might as well congratulate Russia on passing intel to its ally Iran in the ukraine war to target locations and kill US troops "what a traitor " he shares a dictators distain and disposability of its people.
When a reporter asked about this he lashed out
Their was intel that Russians were offering a bounty on US troops in Afghanistan trump choose to ignore
Seems to be some division between the Shah's son Reza Pahlavi and his mother ex Shabanu (Empress) Farah. She is saying Iran's future should not be decided by outside intervention.
He was 19 when he left Iran. And wasn't even second in line until 2011. He would be totally beholding to who ever empowered him.
It's the old actors question "yes, but what have you done lately?"
but can ‘fantom’ ships carrying Russian sourced oil be still Arrested?
40 million might help steal an election.
Now that the Russians are making Iranian drones in Russian factories they don't need Iran anymore.
The question (as always) is what would a Russian agent have done differently ?
This is the perfect time to double down on Russian sanctions because other countries have less money to spend and there's a lot more focus on where ships are.
China is one of the main suppliers to the Russian military and imports a huge chunk of Iran's oil. That's gotta be a win for US foreign policy unless the orange keeps undermining said policy to the benefit of the US's main adversary for most of the last century.
Another reason to shift to renewables. Fossil fuels are supplied by countries in very unstable regions usually ruled by autocrats, some of them like Putin anti Western. The US itself is ruled by someone who in my opinion leads a regime that is engaged in democratic backsliding.
Hopefully Ukraine can apply a few more sanctions of their own!
China plays the long game and are moving to renewables in a huge way. Lots of EV's and high speed rail. They are starting to make their own medium sized airliners and AI chips too. Not as good as the imports but good enough to ease a lot of pressure on sanctions.
Trump of course allowed US companies to sell AI chips to China against the wishes of the US military. Who needs friends when you have "enemies" like that. The US should be pressuring India and China to reduce trade with Russia while they still can.
The UK closed the 3.3Bn m3 Rough Storage Facility in 2017 to save money. All those savings evaporated instantly when the Russian gas embargo caused prices to rise.
Most of the now defunct new-nuclear companies were depending on getting fuel from Russia.
