Hungary’s foreign minister strongly criticized the European Union’s sanctions against Russia, arguing they have damaged its members’ economies more than their target’s as well as failing to stop the war in Ukraine.
“If we make an assessment, an analysis, about the impact of sanctions, it’s obvious that they have not fulfilled expectations,” Péter Szijjártó told CNBC’s Geoff Cutmore at the World Economic Forum in Davos.
“Because what was the expectation at the beginning of March, end of February, when we discussed the first package of sanctions? That they will put Russia’s economy on its knees, therefore the war will be stopped soon,” he said.
Sanctions imposed by the EU against Russia include travel bans and asset freezes on a host of high-profile individuals; import and export bans on a range of goods; and an oil price cap in collaboration with the G-7 and other allies. The bloc has also aimed to dramatically cut its natural gas imports from Russia.
Szijjártó continued: “Russia’s economy is not on its knees, definitely. We can have different assessments of how badly they perform but they’re not on their knees, and the war is not coming to its end. And Europe’s economy is suffering more from sanctions than the Russian economy.”
“So if you look at it in a practical way, not in an ideological way, what was the impact of sanctions, you see they are more harmful to Europe than Russia. So we should not more forward with the sanctions because simply they have not fulfilled the expectations and target we have put on them.”
Recent research from the Centre for Research on Energy and Clean Air, an independent Finnish think tank, estimated the G-7′s price cap had cost Moscow an estimated 160 million euros ($171.8 million) per day.
The war and resultant energy crisis and food supply have also driven up inflation in EU countries and raised the specter of recession, though other factors including the impact of the pandemic on workforces and supply chain issues have also been raised as factors.
Szijjártó said Hungary condemned the war and was standing with Ukraine, but reiterated that he does not believe sanctions are the path to peace.
“At the end of the day, we have to contribute to help reconstruct Ukraine, but if we ruin our own economies we will not be in a position to help Ukraine be reconstructed,” he said.
Asked why Hungary therefore voted in favor of sanctions, he said it had achieved exemptions in areas that were vital to its national interests, such as purchases of oil and gas because it cannot import from other sources due to pipeline infrastructure.
Szijjártó defended Hungary’s decision not to send weapons to Ukraine, as western powers including the U.S. have been doing and which the leaders of Poland, Latvia and Lithuania on Tuesday argued should be increased.
He said it had instead chosen to provide humanitarian assistance to the 1 million Ukrainian refugees that have arrived in the country and would advocate for peace talks, as it did not want the Hungarian community based at the border between the countries to be targeted in the war.
Szijjártó also accused the European Union of withholding money owed to it through European funds tied to bloc-wide economic performance because of, he said “political reasons … because Brussels hates that there is an anti-mainstream, right-wing, patriotic, Christian democratic government in Hungary for more than 12 years now, and it is still successful.”
The European Commission directed CNBC to a comment spokesperson Peter Stano gave regarding Hungary and sanctions on Monday, stating: “All the sanctions decisions in the EU are made by member states in unanimity.”
“Until now the European Union member states have adopted nine wide-ranging packages of sanctions against Russia for its illegal aggression against Ukraine, reflecting on EU policy agreed by the 27 member states that we stand by Ukraine and we stand by them in a number of tracks, economical, financial, military and through putting pressure on Putin’s regime through sanctions and international isolation.”
Stano said these were constantly being reviewed and any future decision would again by in unanimity.
Hiboy kicks off its sixth anniversary with $580+ in launch savings on its new EX6F low-step folding e-bike from $950
Hiboy is celebrating its sixth anniversary with a massive sale through June 25 that is taking up to 55% off its EV models, accessories, all while also offering daily limited-stock flash sales on select units to ridiculously low prices (found on sale’s main page here). Among the lineup, this sale is the first chance at savings on Hiboy’s new EX6F Low-Step Folding e-bike for $949.98 shipped, after using the promo code IMEX6F50 at checkout for an additional $50 off. There’s also an optional bundle promotion running on this model, which the first 50 buyers of this e-bike can choose over the $50 in extra savings – just add the e-bike to your cart without the above code and you’ll get two free pannier bags along with your purchase ($95 value, automatically added in cart). This new model is hitting the scene with a $1,580 price tag, with the $580+ savings here being quite the starting launch deal. Head below to learn more.
A predecessor to Hiboy’s popular EX6 model, the new EX6F low-step e-bike arrives with one major upgrade standing out, namely the tri-fold frame that makes saving space when it’s not in use all the easier, while also providing a more convenient way to transport it in trunks, on RVs, and the like. It comes with a 500W motor (peaking at 750W) that works with the removable 14.5Ah waterproof battery to reach top speeds of 25 MPH for up to 75 miles with its pedal assistance mode activated, or for up to 41 miles when its pure electric mode is utilized. There’s also a third mode for manual pedaling for those who like to get some cardio in during their journeys.
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Among the Hiboy EX6F e-bike’s features, you’ll also be getting 20-inch by 4-inch fat tires and a hydraulic front suspension for all-terrain fun, as well as a Shimano 7-speed derailleur, a rear cargo rack with a 110-pound payload, a clear LED display for monitoring and adjusting settings, and more.
Hiboy’s other anniversary e-bike deals:
Hiboy’s anniversary e-scooter deals:
Get a sizeable 3,500Wh CATL battery capacity through Mango’s Power E station with $2,800 in exclusive savings at $999
We’ve secured another exclusive deal from Wellbots on the Mango Power E Portable Power Station for $999 shipped, after using the exclusive code 9TO5MANGO600 at checkout. It’s already been cut down to $1,599 from its $3,799 price tag, with the additional $600 in savings from our exclusive code taking things even further. While it lands $100 above the all-time low from our previous mention in mid-March, you’re still looking at the second-best price we have tracked, which gives you a total $2,800 in savings on a power station with some serious backup power.
Mango’s Power E is a sizeable unit for the price, which also comes built using CATL battery cells that are typically found in EVs from brands like Mercedes Benz, Tesla, BMW, and more. It boasts a 3,500Wh capacity, which can be expanded as high as 14kWh with the addition of two expansion batteries. It delivers an impressive 3,000W of output power, which increases to 7,000W with the two-battery expansion setup, and sports 16 port options to cover appliances and devices: four ACs, six USB-As, two USB-Cs, two DCs, one car port, and an RV port. If you get yourself an mSocket Pro accessory, its capabilities can extend to become a split-phase generator that covers larger heavy-consumption appliances, including heaters, dryers, water pumps, and much more.
You can recharge its battery to 80% via a wall outlet in one hour’s time, with the solar option to connect up to a max 2,000W input, as well as a 3,000W input it can receive from any generator you have. Not only does it come with a 10-year warranty, but according to the brand, you can also be eligible for a 30% IRS tax credit once you pick it up, which adds future savings to the already large pot.
Here’s your second chance at ECOVACS’ Goat O1000 RTK robot mower with a fish-eye cam for an $850 low
Amazon is giving folks another chance to score the new ECOVACS Goat O1000 RTK Robot Lawn Mower at $849.99 shipped, which is beating out the brand’s direct pricing by $150. This model (alongside its four counterparts) released back in February carrying a $1,000 price tag, which we saw regularly dropping to $900 from March until early May when this $850 low first appeared. Now, you’re looking at the second chance at this all-time low price, with $150 cut from the tag. Head below for more on this model and the two counterparts that are also seeing discounts.
The standard model among the five new ECOVACS Goat robot mowers, the Goat O1000 model is designed to cover up to 1/4-acres of lawn on a single charge, with it able to pick up where it left off after charging. There’s advanced AI here that utilizes RTK navigation for more accurate location tracking and route planning, as well as integrated AIVI 3D obstacle avoidance. The programming for the obstacle avoidance isn’t only limited to inanimate objects either, as it can identify small animals that may come and go through your yard, even during the dead of night. Its performance is further bolstered by the LiDAR (3D-ToF) and fisheye camera, which takes over navigating when entering heavily shaded areas that the satellites can’t see.
This robot comes sporting a more compact and narrow design, allowing it to fit in tighter spaces where a normal push mower cannot tread, with the whole thing even boasting an IPX6 waterproof construction to better stand against inclement weather changes. There’s plenty of remote smart controls available via its companion app, giving you the means to adjust settings, monitor its real-time performance, and edit the 3D maps it creates. Head below for more.
ECOVACS’ other new robot mower deals:
Get an adaptive cut with this Worx Nitro 40V 21-inch cordless mower and two 5.0Ah batteries at new $289 low
Amazon is offering the Worx Nitro 40V 21-inch Cordless Intellicut Lawn Mower for $289 shipped. It normally carries a $500 MSRP directly from the brand, while at Amazon, we usually see it priced at $350 to $400. We’ve seen regular drops to $299 over the last 12 months, but today the savings are increasing to go lower than ever. The deal here offers a 28% markdown off the going rate, giving you $111 in savings at a new all-time low price, beating out our previous mention by $10. Head below for more on this newer, smarter lawn care solution from Worx.
You can get a smart mower on a budget with this newer Worx Nitro 40V model that comes with the brand’s intellicut system that can automatically adjust cutting speeds based on the thickness of the grass you’re working through. The 21-inch aerodeck increases air volume through its vented design, optimizing its performance efficiency while preventing clogs and clumping, with the whole thing surrounding a brushless motor 2.0 for “40% more power and 10% longer runtime than first-gen models.”
The two included 5.0Ah batteries gives you the juice to cover up to 1/2 an acre on a full charge – plus, they come as part of the PowerShare family, making them compatible across the tool ecosystem. The mower provides seven cutting height levels via the lever, giving you a range of 1.5 to 4 inches to choose from, and that’s on top of the three-in-one functionality for rear-bagging, mulching, or side-discharging your clippings. Storage is a bit easier here too, as the handle collapses and folds to save you space when it’s not in use.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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ENGIE North America is taking a big step toward making solar power more sustainable by baking recycling into the foundation of four upcoming clean energy projects.
The company is partnering with tech-based solar panel recycler SOLARCYCLE to roll out a new kind of agreement that ensures about 1 million solar panels will get recycled once they reach end of life. The panels come from 375 megawatts (MW) worth of solar projects across the Midwest, and ENGIE says this move will help keep 48 million pounds of material out of landfills and cut around 33,000 tons of carbon emissions.
What makes this different is that recycling isn’t being tacked on at the end – it’s being planned from day one. This “precycling” approach builds recycling directly into power purchase agreements, so developers and energy buyers can make circularity part of their sustainability goals from the start.
It also helps that SOLARCYCLE can track every panel to make sure it actually gets recycled, with recovered materials fed back into the domestic supply chain to form the next generation of clean energy products.
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ENGIE says the partnership with SOLARCYCLE shows that a circular solar economy is possible, with no new regulations or upfront payments required. And it sends a strong message: clean energy shouldn’t just be renewable, it should be recyclable too.
These four pilot projects are part of ENGIE’s growing North American footprint, which already includes more than 12 gigawatts (GW) of wind, solar, and battery storage.
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check outEnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get startedhere. –trusted affiliate link*
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Ford is recalling over 300,000 Mustang Mach-E models globally due to a glitch that could leave you locked out or potentially trapped inside the vehicle.
Ford is recalling over 300,000 Mustang Mach-E models
If you were planning to pick up your new Mustang Mach-E, you might have to wait a little longer. Ford told dealers to halt sales of the electric SUV until there’s a fix.
In the event of an unexpected 12V battery discharge, the front door electronic latch may not function, which could leave you stuck outside or, worse, inside the vehicle.
Ford is recalling around 317,000 Mustang Mach-E models in the US and globally as it works to resolve the issue. The recall impacts model years 2021 through 2025. Ford said it’s not aware of any reports of accidents related to the glitch.
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A fix is coming soon. Ford is working on a software update, which is expected to roll out in Q3, or over the next few weeks. Until then, the stop-sale will remain in place.
2025 Ford Mustang Mach-E (Source: Ford)
The update is expected to be available for current Mach-E owners. However, according to an owner on Mach-E Forum, it may require a visit to the dealer rather than an easy OTA software update.
When the software fix is available, Ford will notify owners through the mail to schedule an appointment with their local dealer. Dealers will fix the issue, free of charge.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
Last month, a Ford spokesperson confirmed with Electrek that the company is raising prices on vehicles built in Mexico, including the Mustang Mach-E. The higher prices impact vehicles shipped after May, which are expected to arrive at dealerships in late June.
The spokesperson explained that the price raises are part of Ford’s “usual mid-year pricing actions, combined with some tariffs we are facing.
Ford is still offering employee prices on most 2024 and 2025 models. With the discount, the 2025 Mustang Mach-E starts at just $36,005.
Last month, Ford sold 4,724 Mach-Es in the US, up 11% from May 2024. Through the first five months of 2025, Ford has sold 19,258 Mustang Mach-Es in the US, a 2.8% increase from the same period last year.