Zelenskyy and Orbán Discuss Viktory’s Headrest
“Any Viktor who lives off European money and at the same time tries to sell off european interests deserves a hat,” Ukrainian President Volodymyr Zelenskyy said at the World Economic Forum in Davos.
Orbán spoke up instantly
Table of Contents
In his speech, he warned against the normalization of pro-Russian attitudes in the european Union. “If someone feels good in moscow, it does not mean that we should turn european capitals into small Moscows,” he added.
Criticism was aimed at politicians who, according to him, question European solidarity with Ukraine and at the same time benefit from European funds. The allusion to the Hungarian prime minister was therefore obvious. And Viktor Orbán spoke up immediately.
he wrote on the networks that he “doesn’t get along” with Zelensky.”I am a free man who serves the Hungarians.You are a man in a desperate situation,” he said to the Ukrainian president. In the next sentence, he added that Zelenskyy is ”unwilling or unable to end the war” for the fourth year, despite ”all the help” from the United States.
At the same time, Orbán repeated that Hungary does not support the ”war effort” of Ukraine. At the same time, he emphasized that Budapest will continue to supply electricity and fuel and help refugees.
He concluded the text with the sentence that “life will arrange everything” and that “everyone gets what is due”.
Simultaneously occurring, the Prime Minister maintains lively contacts with the Russian regime.List of reports this week during the visit of the Hungarian foreign minister in Prague pointed outthat the head of hungarian diplomacy has been to Russia at least fifteen times since February 2022.
And it was Péter Szijjártó who also connected Zelensky’s speech with the Hungarian campaign. In it, the Fidesz party faces its biggest competitor in the last 16 years: MEP Péter Magyar’s Tisza party.
Ukraine’s Hryvnia Faces Mounting Pressure Amidst War
Ukraine’s national currency, the hryvnia, is under notable strain as the ongoing conflict with Russia continues to impact the nation’s economy. while officially pegged at 39.5 hryvnia to the US dollar as of January 23,2026,the actual exchange rate in the cash market diverges considerably,reflecting concerns about the country’s financial stability.
Official vs. Cash Exchange Rates
The National Bank of Ukraine (NBU) maintains the official exchange rate at 39.5 UAH/USD to provide a degree of stability. However, cash exchange points and the black market offer rates closer to 41-42 UAH/USD, and even higher in some cases. This discrepancy highlights a growing gap between the official valuation and market perception of the hryvnia’s worth.
Factors Contributing to the Pressure
- War-Related Economic Disruption: The war has severely damaged Ukraine’s industrial base, disrupted supply chains, and led to a significant decline in exports.
- Increased Government Spending: Military expenditures and social support programs have dramatically increased government spending, putting pressure on the national budget. In 2025, military aid accounted for 45% of the national budget, according to the Ministry of Finance of Ukraine.
- Declining Foreign Investment: The ongoing conflict has deterred foreign investment, limiting the inflow of foreign currency needed to support the hryvnia. Foreign Direct investment (FDI) fell by 78% in 2024 compared to 2021, according to State Statistics Service of Ukraine data.
- Inflation: Ukraine experienced an inflation rate of 18.3% in 2025,eroding the purchasing power of the hryvnia. (Source: NBU Inflation Report, December 2025).
Government Measures
The NBU has implemented several measures to stabilize the hryvnia, including:
- Currency Controls: Restrictions on the purchase and sale of foreign currency have been tightened.
- Interest Rate Hikes: The NBU raised its key interest rate to 20% in December 2025 to curb inflation and support the hryvnia.
- International Aid: Ukraine continues to rely heavily on financial assistance from international partners, including the united States and the European union. As of january 15,2026,the US has provided $67.1 billion in aid to Ukraine as February 2022 (Source: US Department of State).
Future Outlook
The future of the hryvnia remains uncertain and heavily dependent on the trajectory of the war and the continued flow of international aid.Analysts predict continued volatility in the currency market throughout 2026. The International monetary Fund (IMF) projects a potential devaluation of the hryvnia to 42 UAH/USD by the end of 2026 in its latest regional economic outlook report released january 10, 2026.