Peter Szijjarto's announcement came after Ukraine's Security Service (SBU) allegedly dismantled a Hungarian military intelligence network operating in Zakarpattia Oblast.
The approval marks a key step in international efforts to hold Moscow accountable for what is considered the gravest violation of international law committed against Ukraine.
Although Moscow declared on April 28 that it would halt all military actions from May 8 to midnight on May 11 to mark Victory Day, strikes on civilian areas have continued.
Under Soviet dictator Joseph Stalin's rule, millions of Ukrainians died during the Holodomor, a man-made famine in 1932–1933. The dictator also oversaw mass deportations, purges of Ukrainian intellectuals and leaders, and the suppression of the Ukrainian language and culture.
According to the Security Service of Ukraine (SBU), this marks the first time Ukrainian authorities have exposed a Hungarian military intelligence network conducting activities harmful to Ukraine.
Delegations from 35 countries and the Council of Europe gathered in Lviv as EU officials prepare to approve both new defense aid and steps toward establishing a tribunal for Russian leadership.
The ruling marks a significant victory for RFE/RL amid growing concerns about U.S. funding cuts to independent media countering Russian disinformation.
U.S. Cardinal Robert Prevost was elected the new pope and leader of the Roman Catholic Church on Thursday, taking the name Pope Leo XIV, a senior cardinal announced on May 8 to crowds gathered in St. Peter’s Square, according to Vatican News.
George Simion, leader of Romania's far-right AUR party, who won the first round of the presidential election with nearly 40% of the vote, reiterated that if elected, he would oppose any further assistance to Ukraine and shift Romania’s focus inward.
Russian President Vladimir Putin and Chinese President Xi Jinping hailed their countries' relationship on May 8, vowing to increase cooperation in all areas, including military ties.
"There is Turkey, which maintains channels of communication. And then, above all, there is the People's Republic of China, which, more than anyone else, has the means to make (Russian President Vladimir) Putin come to the negotiating table and soften his demands," Polish Foreign Minister Radoslaw Sikorski said on May 8.
The United States will be ready to "walk away" from the negotiating table if it does not see Russia making progress in negotiation to end the war, U.S. Vice President JD Vance told Fox News on May 8.
Slovak Prime Minister Robert Fico arrived in Moscow on May 9 to celebrate Victory Day, commemorating the 80th anniversary of the defeat of Nazi Germany in World War II.
Customers of an Auchan supermarket walk through the laundry detergent aisle. (Pavlo Podufalov)
Ukrainian consumers felt the impact of high inflation in 2021 as prices on basic goods and utilities kept growing. The annual inflation rate last year grew to 10% for the first time since 2018. The growth of consumer prices also accelerated – from 5% in 2020 to 10% in 2021, according to the State Statistics Service.
Price increases were seen in 2021 across many sectors, including gas, food and transport. Gas tariffs increased by 66% last year and electricity tariffs went up by 34%. Grocery shopping also became more expansive as sugar prices rose by 61.5%, sunflower oil prices – by 57.7%, and eggs – by 47%.
The cost of transport and education also went up – by 15% and 10% respectively. The average check in Kyiv's cafes increased by 21% last year, and the cost of a taxi – by almost 40%.
Changes in consumer prices in Ukraine in 2021:
Bread – up by 15.8%
Alcoholic beverages – up by 9.8%
Meat – up by 9.3%
Fish – up by 7.1%
Healthcare – up by 6.6%
Restaurants and hotels – up by 6.1%
One of the reasons for the spike in prices was the global supply chain disruption triggered by the pandemic. For months shipping containers loaded with goods waited in ports to be unloaded, causing shortages in supermarkets and changes in consumer behavior globally.
The rising inflation is not unique to Ukraine. As energy and food prices soar amid the global economic crisis triggered by the COVID-19 pandemic, the inflation in Europe reached a record 5% in December, according to Eurostat.
In the U.S., the inflation rate rose to 6.8% over the last year to its highest point since 1982, according to the Bureau of Labor Statistics. Economists say that inflation will start to fall in the coming months, although their confidence has decreased amid the outbreak of the coronavirus’s contagious Omicron strain.
Over 2022 Ukraine's National Bank wants to bring the inflation down to the promised 5%. Local experts are not so optimistic.
"Ukraine could return to 5% inflation only in the first quarter of 2023," according to Vitaliy Vavryshchuk, head of the macroeconomic research department at the ICU financial group. In 2022, the inflation rate could fall to 7.2%, he said.
Other forecasts are similar: Head of the analytical department at Alfa-Bank Oleksiy Blinov predicts that the average annual inflation will exceed 8% next year, while banks and businesses expect that it will stay at 7.5-8% at the end of 2022, according to the NBU deputy chairman Serhiy Nikolaychuk.
To slow down inflation in Ukraine the NBU raised its policy interest rate five times last year. In December it reached 9%, a maximum in almost two years. According to the NBU, this rate was motivated by the rising inflation and the threat of Russia'a military invasion.
Around the world many central banks have already started normalizing monetary policy, according to Morgan Stanley.
“But we do not think banks will abruptly set rates back to neutral, let alone into a restrictive stance,” said Morgan Stanley's Chief Global Economist Seth Carpenter.
Daryna Antoniuk is a tech reporter at the Kyiv Independent. She worked in the same role at the Kyiv Post and has focused on Ukrainian startups, investment and the fintech market. Antoniuk previously was a tech reporter for Forbes Ukraine. Her work has also been published at Sifted and The Record. She graduated from Taras Shevchenko National University in Kyiv with BA in journalism and communications.
