The key regional city of Sievierodonestsk is surrounded on three sides; George Soros warns Davos that conflict could mark beginning of ‘world war three’

The Hungarian prime minister, Viktor Orban, has declared a state of emergency due to the war in neighbouring Ukraine.

Orban, who was returned to power for a fourth consecutive term in April, announced in a Facebook video that his government would assume emergency powers in order to be able to respond more quickly to the challenges created by the war. It will allow the Hungarian government to approve measures by decree.

The world is on the brink of an economic crisis.

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