EU plus

The European Union is seeking to reduce the price cap on Russian oil from $60 to $45 per barrel. This should make it more difficult for Russia to finance its war against Ukraine. The EU also intends to discourage investment in the Nord Stream 1 and 2 gas pipelines.

The Informal Summit of the Organization of Turkic States (OTS), held on May 20-21, 2025, in Budapest, Hungary, marked a significant milestone in the organisation’s growing geopolitical influence. Hosted by Hungarian Prime Minister Viktor Orbán, the summit brought together leaders from Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, and Uzbekistan, alongside observer states Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus. This gathering, the first OTS summit hosted by an observer state, underscored Hungary’s role as a bridge between the Turkic world and Europe, reflecting the theme “Meeting Point of East and West.”