Transmission system operators (TSOs) of Ukraine, Slovakia, Hungary, and Romania launched the first monthly auctions for the allocation of cross-border capacity on Monday, according to Ukrenergo.
They are being held on December 15-17 on the Joint Allocation Office (JAO) platform with delivery in January 2026. The final results of the auctions are to be announced on December 23. According to information on the JAO, the capacity of the interconnection with Hungary is 460 MW, with Romania and Slovakia – 172 MW each. No interconnection capacity is offered from Ukraine.
“Long-term auctions for the allocation of cross-border transmission capacity are definitely beneficial for the Ukrainian electricity market. In the context of massive Russian attacks on our energy system, we really need confidence in a stable supply of electricity imports every month,” commented Vitaliy Zaychenko, chairman of the board of Ukrenergo, whose words are quoted in the company’s Telegram message.
“We are grateful to our partners at ENTSO-E and the JAO auction platform, as well as our colleagues from the energy system operators of neighboring EU countries for their effective cooperation. We hope that it will continue and that annual auctions will also be introduced in the future,” said Zaychenko.
According to NEC, the introduction of such auctions was made possible thanks to cooperation with TSOs of neighboring countries and with the support of the European Network of Transmission System Operators (ENTSO-E). Work on the rules for long-term allocation for the EU’s external borders has been ongoing for the past two years.
“After these rules were approved by the national regulators of Ukraine, Slovakia, Hungary, and Romania, it became possible to allocate free capacity at inter-state crossings through monthly long-term auctions. For Ukraine, this means more effective price forecasting and, in the long term, a reduction in the cost of imported electricity,” Ukrenergo explained.
As noted in the report, on a global scale, monthly auctions contribute to closer integration of the Ukrainian and European energy markets and ensure greater stability of Ukraine’s integrated energy system.
As reported, with the start of a full-scale invasion, given the military risks, ENTSO-E agreed only to daily auctions for the distribution of inter-state cross-border capacity for import and export operations with electricity.
At the same time, traders and energy companies have repeatedly pointed out that the absence of long-term auctions, in particular monthly and annual ones, hinders the effective attraction of imported electricity.
In early December, Vitaliy Zaychenko, Chairman of the Board of NEC Ukrenergo, told Energorforma that he expects the first long-term (monthly) auctions for the distribution of inter-state crossings with Romania, Hungary, and Slovakia since the start of the war to be successful.
“I think these auctions will take place. The market is definitely waiting for long-term auctions. Therefore, I think that the entire proposed cross-border capacity will be sold,” he said.
“Unfortunately, there will be no auctions in Poland because the Polish transmission system operator does not give its consent,” added the head of Ukrenergo.
It should be noted that the auctions launched today are joint, i.e., they are held simultaneously by both operators. The TSO agreed on this mechanism in 2023, and so far, daily auctions have been held under it. Monthly auctions were previously held in Moldova and Poland (Dobrotvir-Zamosc crossing), where unilateral auctions are still in place instead of joint ones.
According to Serbian Economist, Budapest, Hungary, ranked first in Radical Storage’s list of the world’s dirtiest cities, compiled based on an analysis of tourist reviews of the cleanliness of popular attractions in 100 major tourist destinations.
According to the study, 37.9% of reviews mentioning cleanliness in Budapest were negative, which was the worst result among all cities surveyed. Rome (35.7% negative reviews), Las Vegas (31.6%), Florence (29.6%), and Paris (28.2%) followed.
The top 20 cities perceived as the dirtiest by tourists also included Milan, Verona, Frankfurt, Brussels, Cairo, Heraklion, New York, Barcelona, Johor Bahru, Seville, San Francisco, Miami, Hyderabad, London, and Osaka. In all these cities, the share of negative reviews about cleanliness ranges from 15.6% to 26.8%.
The authors of the study note that the most criticism for cleanliness is received by mass tourist centers with historic centers and high loads on urban infrastructure. In the case of Budapest, one possible reason is that the waste management system has not been able to keep up with the growth in tourist traffic, which, according to Etias, increased by 8.3% in Hungary in September 2025 and by 12% in the capital itself compared to the same month in 2024.
Radical Storage emphasizes that the rating reflects not objective sanitary indicators, but rather the subjective perception of cleanliness by tourists, as recorded in English-language Google reviews of key attractions in the 100 leading cities in the world according to the Euromonitor index.
According to Serbian Economist, regular rail service between Belgrade and Budapest will start on February 20: passengers will once again be able to travel between the two capitals by train without changing trains. After modernization, the line is designed for train speeds of up to 160 km/h, which significantly reduces travel time and makes the train competitive with road transport.
In fact, this is not only about the “return of the train” between the two capitals, but also about Serbia’s inclusion in the wider Central Europe-Balkans-Aegean Sea transport corridor. Belgrade is gaining a stronger role as a transit hub for freight and passenger flows, and the route is becoming more attractive for logistics and industrial projects.
https://t.me/relocationrs/1894
According to Serbian Economist, Hungary is preparing to tighten tax supervision in a number of economic sectors, including real estate rentals through online platforms, delivery and courier services, and cryptocurrency transactions.
According to Daily News Hungary, the Minister of Economy has submitted two bills to parliament that would require foreign platforms to provide Hungarian tax authorities with detailed data on users and their transactions starting in 2026.
The following will be subject to regulation:
1) private individuals renting out apartments through Airbnb and similar services;
2) couriers and drivers working with Wolt, Uber, and other platforms;
3) investors trading cryptocurrencies through Revolut, Binance, and other exchanges.
Tax authorities will have direct access to information about the income of Hungarian individuals and legal entities, bypassing the self-declaration system.
According to the documents, service providers will be required to provide the company name, registered address, tax number, and personal data (name, date of birth, transaction volume).
Experts note that Hungary’s initiative is not limited to combating landlords — it covers the entire digital economy segment, where control was previously difficult.
“The aim is to create a system of transparency that will increase tax revenues without raising base rates,” the government notes.
Analysts believe that the new rules could affect the rental market in Budapest and other major cities. For foreign citizens living in Hungary and renting apartments through Airbnb, tax risks and administrative obligations will increase.
“Until now, many foreigners have used Hungary as a platform for investing in the rental business. Now, some of them may reconsider their strategy, which in the long run will lead to a reduction in the supply of short-term rentals and, possibly, an increase in prices in the long-term segment,” real estate market experts note.
Hungary is traditionally considered one of the EU countries with relatively low corporate taxes (9%), but the upcoming tightening of control over the digital economy shows the government’s desire to expand the tax base.
CRYPTOCURRENCIES, HUNGARY, real estate rental, tax supervision
In terms of total trade volume, Ukraine cooperates most closely with China, Poland, and Germany. These countries form the basis of the state’s foreign economic relations, exerting a critical influence on imports and exports.
China remains the leader with a total trade volume of $8.99 billion. Poland ranks second with $6.04 billion, while Germany and Turkey are almost equal with $4.28 billion and $4.25 billion, respectively. The United States ranks fifth with $2.86 billion.
The top 10 also includes Italy ($2.38 billion), the Czech Republic ($1.64 billion), Bulgaria ($1.54 billion), Hungary ($1.53 billion), and Romania ($1.50 billion).
“The top ten partners form the basis of Ukraine’s foreign trade balance. China and the EU countries account for the largest volumes of trade, but it is important to take into account the significant negative balance in relations with these countries,” said Maksim Urakin, founder of Experts Club and economist.
He added that although the large volume of trade indicates Ukraine’s integration into global supply chains, dependence on imports from China and Europe creates strategic risks.
“Poland and Germany are key hubs for Ukrainian exports, but at the same time they are significant sources of imports. Therefore, it is critically important to balance trade flows, preserving positive sectors such as agriculture and metallurgy, and reducing dependence on critical imports,” Urakin noted.
BULGARIA, CHINA, CZECH REPUBLIC, ECONOMY, EXPERTS CLUB, FOREIGN TRADE, GERMANY, HUNGARY, ITALY, POLAND, ROMANIA, TURKEY, UKRAINE, USA, МАКСИМ УРАКИН
According to the results of the first half of 2025, Poland remains Ukraine’s main trading partner in terms of export volumes. According to research by Active Group and Experts Club, exports to Poland amounted to US$2.45 billion.
Turkey ranks second with USD 1.71 billion, and Italy ranks third with USD 1.17 billion. Other major partners include: Germany ($1.09 billion), Spain ($976 million), the Netherlands ($919 million), China ($847 million), Egypt ($776 million), Romania ($679 million), and Hungary ($652 million).
“The structure of Ukraine’s exports shows a clear focus on European Union countries. Poland, Italy, Germany, Spain, and the Netherlands together account for more than half of total exports. This indicates Ukraine’s strategic integration into the European economic space,” emphasized Maksim Urakin, founder of Experts Club and economist.
He also noted that Turkey remains a critically important partner for Ukrainian agricultural and metallurgical exports, while China and Egypt are key markets for agricultural products, particularly grains.
“The presence of trading partners such as Egypt and China diversifies Ukrainian exports,” Urakin added.
CHINA, ECONOMY, EGYPT, EXPERTS CLUB, EXPORTS, GERMANY, HUNGARY, ITALY, POLAND, ROMANIA, TRADE, TURKEY, UKRAINE, МАКСИМ УРАКИН
