FT News Briefing Viktor Orbán’s world tour irks the EU
Jul 18, 2024
Chip stocks took a hit after unsettling comments from Trump. Viktor Orbán's diplomatic ventures during the Ukraine crisis raised eyebrows in the EU, as he sought to play a peace broker role. In the tech realm, Yandex is pivoting to focus on artificial intelligence in Europe, transforming into Nebius Group. This move signals a growing ambition to compete with major American tech firms, showcasing Europe's evolving AI landscape and the emergence of new innovative players.
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Orbán's Travels Irk EU
- Viktor Orbán, Hungary's Prime Minister, has been meeting with Putin, Xi Jinping, and Trump.
- The EU criticized these visits, especially given Orbán's current ceremonial role leading EU ministerial meetings.
Orbán's Peace Mission
- Orbán visited Zelensky in Kyiv before going to Moscow, Beijing, and Florida, promoting his "peace mission".
- This concerned the EU, as it implied negotiating with Russia while they still occupy Ukrainian territory.
Orbán's Strategy
- Orbán anticipates a Trump win in the upcoming election and positions himself as Trump's European ally.
- He promotes a "peace" stance, even if it means Russia keeps occupied Ukrainian territories, hoping to gain favor with Trump.