Press review: Iran rejects US ultimatum as EU seeks to strip Hungary of voting rights

Iran rejected a US proposal for a temporary ceasefire, demanding an immediate and complete end to the conflict.

Turkey, Egypt, and Pakistan are mediating consultations for a potential 45-day ceasefire.

The EU is planning to suspend Hungary's voting rights if Prime Minister Viktor Orban wins the parliamentary elections, to approve a loan to Ukraine.

Experts consider stripping Hungary of its voting rights unlikely due to procedural complexities and potential member state discontent.

The US administration plans to request $1.5 trillion in defense spending for fiscal year 2027, a 44% increase from fiscal year 2026.

This proposed defense budget includes funds for space capabilities, missile defense, missile technologies, Navy expansion, and drone development.

Civilian agencies and social programs are projected to collectively lose 10% of their budgets.

The temporary exemption from US sanctions on Russian oil loaded before March 12 is set to expire, with a high likelihood of extension.

Global aluminum and copper prices are expected to rise significantly this year due to the Middle East conflict and declining raw material production.