Visegrad Group in February 2026: the most important developments in economy
In February 2026 the economic news of the Visegrad Group countries was dominated by a dispute between Hungary and Slovakia on one side and Ukraine on the other over Russian oil shipped through the Druzhba pipeline. Slovakia declared an oil emergency after the pipeline halt, and Hungary tapped its strategic oil reserves. On 18 February Hungary and Slovakia stopped supplying diesel to Ukraine, which the European Commission confirmed a day later. By 24 February Ukraine had further delayed the resumption of oil transit, and Slovakia asked the European Commission to inspect the pipeline. On 23 February Slovakia halted emergency electricity supplies to Ukraine, which said the cut would not affect its grid. Hungarian Prime Minister Viktor Orbán said he might cut power to Kyiv as well, and Hungary considered reducing electricity and gas exports to Ukraine. By month end the EU confirmed that crude oil was reaching Hungary and Slovakia through Croatia, and Croatia said it was ready to secure supplies via the Adriatic pipeline.
The second theme was the EU's financial support for Ukraine. Orbán said Hungary would block a EUR 90 billion EU loan to Ukraine until Russian oil shipments through Druzhba resumed. On 23 February Hungary vetoed the loan, and the veto also held up a new EU sanctions package against Russia. Slovakia also opposed the measures. EU leaders, including Antonio Costa, pressed Orbán to lift the veto. On 26 February Orbán proposed a fact-finding mission to inspect the pipeline, and the European Commission was reported to be exploring a legal loophole to bypass the veto.
Elsewhere, Poland's central bank governor said inflation should stay within the target range this year, leaving a rate cut possible in March. The European Commission projected that Polish public debt would exceed 100% of GDP by 2036 and said Slovakia faces the EU's highest long-term fiscal risk. Hungary and the United States signed a nuclear energy agreement, and Rosatom confirmed it had dropped Siemens Energy as a partner for the Paks II plant. A new railway line between Belgrade and Budapest opened to traffic.
by WorldBrief & Maksim Micheliov | AI-generated summary
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