European intelligence chiefs expressed doubt about the end of Russia's war against Ukraine this year

Senior European intelligence officials are skeptical that Russia’s war against Ukraine will end this year, according to a report by Reuters citing five European spy chiefs. Their assessment contrasts with statements from U.S. President Donald Trump, who has said Washington-backed negotiations have brought a potential agreement closer. The European officials argue that Moscow is not prepared to conclude the war quickly and is instead using talks to advance other objectives.

Four of the intelligence chiefs reportedly believe the Kremlin is leveraging negotiations with the United States to push for sanctions relief and new business arrangements. One official described the latest round of talks in Geneva as “negotiation theatre.” The comments highlight a widening gap between European capitals and the White House, which Ukraine says hopes to secure a deal by June, ahead of November’s U.S. midterm elections.

According to the officials, Russia’s broader strategic goals remain unchanged — including weakening or removing President Volodymyr Zelensky and turning Ukraine into a neutral buffer state. One intelligence chief said Moscow neither wants nor needs a quick settlement, noting that Russia’s economy is not on the brink of collapse. Another cautioned against the assumption that Ukrainian territorial concessions, such as the remainder of Donetsk Oblast, would automatically lead to peace.

Hungary threatens to stop exporting gas and electricity to Ukraine

Hungary is considering suspending electricity and natural gas exports to Ukraine if the flow of Russian oil through the Druzhba pipeline is not restored, according to Ukraine-based energy consultancy ExPro. Gergely Gulyás, chief of staff to Prime Minister Viktor Orbán, said at a government briefing that Budapest would take action if Ukraine does not resume transit of Russian crude via the Ukrainian section of the pipeline.

Hungary is also coordinating potential steps with neighboring Slovakia, which has previously warned it could halt electricity supplies to Ukraine. Gulyás added that the Hungarian government has already released strategic oil reserves at the request of state-owned energy company MOL to manage supply pressures.

Hungary plays a key role in Ukraine’s energy imports. According to ExPro estimates, Ukraine imported more than 2.9 billion cubic meters of natural gas from Hungary in 2025 — about 45% of its total gas imports. In January 2026, Hungary’s share slipped to 38%, or roughly 266 million cubic meters, but it remains one of Kyiv’s primary supply routes.

Former energy minister is involved in laundering US$12.9 m - investigators

Ukraine’s National Anti-Corruption Bureau (NABU) says a criminal organization tied to the so-called “Midas” case laundered $12.9 million in illicit funds for former Energy Minister Herman Halushchenko, who investigators allege was identified in internal records under the codename “Sigismund.” The claims are based on newly released audio recordings and financial documents covering the period from 2021 to 2025. According to NABU, detectives found evidence that millions were funneled through offshore structures and foreign bank accounts for his benefit.

Investigators say most of the money was routed through accounts linked to a foundation at Swiss banks, where it was later placed into deposits that generated additional income. While Halushchenko was in office, more than $7.4 million was allegedly transferred to companies registered in the Marshall Islands, and nearly $4 million was reportedly withdrawn in cash in Switzerland. NABU claims some of the funds were used to pay for children’s education at elite Swiss institutions, medical services at a clinic owned by Oleksandr Tsukerman — another suspect in the case — and luxury purchases in Kyiv. Other funds were allegedly held in accounts belonging to Halushchenko’s former wife.

The bureau also reported that money believed to have been redirected from Ukraine’s energy sector was logged in secret accounting records under the heading “Complex.” More than $112 million may have moved through this category between 2021 and 2025, investigators said, with separate entries referencing “Sigismund” and the methods used to conceal transactions. According to NABU, cryptoassets were used as part of the laundering scheme before funds were either transferred to Swiss accounts or distributed in cash. The allegations have not yet been adjudicated in court.