AGP Executive Report

EU Sanctions Shake-Up: The EU extended Russia sanctions but delisted Russian oligarchs Alisher Usmanov and Mikhail Fridman, triggering anger in Ukraine and fresh political fallout in Brussels. V4-India Diplomacy: Slovakia’s FM Juraj Blanár backed India’s bid for a permanent UN Security Council seat, saying India “must be at the table” as V4+India talks deepen on trade, innovation and defence. EUDI Wallet Deadline Pressure: Europe’s EUDI Wallet rollout is uneven: some countries are close, others are still testing, raising fears the deadline turns the project into a compliance exercise. Slovakia Transport Relief: Slovakia will cut second-class train fares by 50% for one month from Oct. 1 to ease pressure from fuel prices. Energy Mix Watch: Eurostat shows EU renewables still lead (54.1% of electricity in Q2 2026) but growth is uneven, with gas up while renewables dip slightly year-on-year. EU Budget Rules Under Strain: The EU’s new fiscal rules are already being bent via exemptions and softer enforcement, according to the fiscal watchdog. Trade & Investment Links: Slovakia is exploring cooperation with Malaysia’s Sarawak on water, waste, recycling and AI, while Kyrgyzstan and Slovakia discussed expanding trade and sanctions-related coordination.

EU Sanctions Reset: EU countries agreed to extend Russia-linked sanctions for 36 months, but at a price—delisting Russian oligarchs Alisher Usmanov and Mikhail Fridman—after France pushed for a deal tied to prisoner releases, while Latvia tried to block the move and called it “unprecedented.” Slovakia Transport Relief: Slovakia will cut second-class train fares by 50% for one month from Oct. 1 to offset rising fuel costs and encourage commuters to switch from cars to rail. EU-UK Auto Trade Risk: The EU could lose about €24bn if the UK is excluded from “Made in Europe” rules under an industrial strategy, threatening jobs and component supply chains. Retail M&A Watch: Lidl’s owner Schwarz Group is among bidders for Tesco’s Central European business, which includes Slovakia and the Czech Republic. Energy & Industry: Volkswagen is reshaping its Martin plant, with production expected to shift toward truck components and possible job impacts; separately, Slovakia is pitching itself as an AI/data-centre hub, pairing sites with pumped-storage plans. Budget Politics: Slovakia’s SNS wants the transaction tax fully scrapped, but coalition talks suggest only adjustments are likely due to revenue gaps.

EU Regulation Reset: 13 EU countries, including Slovakia, Austria and Poland, are urging the Commission to pause new rules for a year and do a “deep-clean” of existing legislation to cut red tape and boost competitiveness. EU Sanctions Politics: The EU agreed a compromise to extend Russia sanctions for 36 months while delisting oligarchs Alisher Usmanov and Mikhail Fridman after Latvia dropped its veto—prompting sharp criticism from Ukraine and concerns about “normalising” Russia. Slovakia at Work: Slovakia’s Equal Pay Act, implementing the EU Pay Transparency Directive, is now in force, with new reporting deadlines and expanded equal-pay protections that employers need to plan for. Indo-Central Europe Push: India’s UN Security Council bid gained backing from the V4 (Slovakia, Poland, Czechia, Hungary) as ministers agreed on annual meetings and an expanded business forum. Business & Industry: Evonik plans a growth-focused restructuring through 2030, cutting 3,200 jobs worldwide, including major reductions in Germany, while keeping investment momentum in healthcare and biotech projects in Slovakia. Aviation & Travel: Bratislava Airport logged its busiest August on record, up 76% year-on-year to 625,742 passengers, underlining demand for regional connectivity.

EU Sanctions Reset: The EU agreed to extend Russia-related sanctions for 36 months while delisting oligarchs Alisher Usmanov and Mikhail Fridman, after weeks of deadlock that Latvia finally ended with an abstention—prompting sharp Ukrainian criticism and calls for national sanctions. Slovakia’s Energy Pressure: Slovak PM Robert Fico hit out at the EU over fuel prices, demanding an emergency summit and saying the government will prepare price-control measures. V4+India Push: Slovakia and the Visegrad Group backed India’s bid for a permanent UN Security Council seat, while also mapping cooperation on trade, investment, tech, defence and resilient supply chains. Indo-Pacific Pivot: Foreign Minister Juraj Blanár said Slovakia is stepping up Indo-Pacific ties, including reopening an embassy in Australia and joining ASEAN’s Treaty of Amity and Cooperation. Jobs & Skills at Home: Volvo’s EV plant near Košice hit 1,000 employees and starts its first shift, while the National Bank of Slovakia launched a Graduate Education Programme for future economic policymakers. Local Crime Watch: Bratislava police investigated multiple Pokémon card thefts and frauds, including a single card worth €3,440.

EU Sanctions Deadlock: Latvia blocked an EU compromise to renew Russia-related sanctions, risking lapse of measures covering nearly 3,000 people and entities. The plan would have lifted bans on Russian-linked billionaires Alisher Usmanov and Mikhail Fridman while extending the rest for three years, but Latvia refused the “price” of delisting, forcing fresh talks in Brussels. Slovakia in the Mix: The dispute follows France and Slovakia pushing for Usmanov’s removal, with Luxembourg then demanding the same for Fridman—while Ukraine warned delisting would send the wrong signal. V4+India Business Push: In New York, Slovakia’s FM Juraj Blanár backed India’s bid for a permanent UN Security Council seat, as V4 partners agreed to step up political, economic and defence cooperation and set up annual foreign-minister meetings plus an annual business forum. Carpathian Eight Rift: Hungary distanced itself from Ukraine’s Carpathian Eight initiative and rejected a proposed MOL–Naftogaz fuel-storage plan, drawing a sharp response from Kyiv.

EU Sanctions Deadlock: EU ambassadors failed to finalize a deal renewing Russia-linked personal sanctions, with talks set to resume hours before expiry; the dispute centers on whether to delist Alisher Usmanov and Mikhail Fridman while extending restrictions on roughly 3,000 others for three years. Slovakia in the Crossfire: Slovak PM Robert Fico warned some in NATO want a Russia–NATO clash, while Slovakia and France pushed for delistings—sparking backlash from Kyiv and other EU capitals. Bratislava Airport Dispute: Passengers at Bratislava Airport reported Bolt/Uber drivers allegedly cancelling rides to wait for higher fares; Bolt says deliberate rejection to raise prices violates its rules. Slovak Market Pressure: Companies continue leaving Slovakia, including Bosch layoffs in Bernolákovo and Hubert closing in Sereď, citing labor and tax/social burdens. EU Red Tape Push: 13 EU countries backed a “legislative deep-cleaning” and a possible 12-month pause on new rules to cut bureaucracy. Green Finance Angle: A study presented in Montenegro says Moldova can fund its green transition via capital markets, green bonds and investment-ready projects—relevant for V4 partners. Energy Politics Watch: A German far-right win is being read as a sign the energy crisis could reshape elections across Europe.

EU Budget & Rule of Law: The European Commission is pushing to expand rule-of-law conditionality and democracy funding in the next 2028–34 EU budget, but member states may water it down as populist pressure grows. EU Sanctions Deadlock: EU ambassadors are again wrestling with extending Russia sanctions on a tight deadline, with France reportedly blocking a deal over demands tied to Alisher Usmanov. Slovakia Politics & War Rhetoric: Prime Minister Robert Fico escalated his dispute with the West and Czech President Petr Pavel, saying Slovakia won’t join any “military adventure” and warning against a NATO–Russia clash. EU “Simplification” Push: Austria and 10 other EU states, including Slovakia, want a 12-month pause on new legislation—calling it a “year of simplification” to cut bureaucracy and improve competitiveness. Ukraine Energy Security: Naftogaz and MOL signed a memorandum for oil product storage facilities in Hungary to protect fuel supplies amid Russian strikes. Food Supply Risk: A Black Sea blockade is threatening wheat shipments and raising inflation and food-security concerns across vulnerable countries. Slovakia Business & Trade: DiamondFish is scaling African catfish production in Slovakia, aiming to compete with imported Atlantic salmon. Defense Procurement: The US Army awarded Skyeton a $10.64M contract for Raybird reconnaissance drones, with combat-proven use from Ukraine.

Defense Procurement: The U.S. Army awarded Skyeton Inc. a $10.64M contract for Raybird reconnaissance drones and services, pulling a combat-proven Ukrainian-origin system into formal U.S. acquisition; delivery work runs to Dec. 15, 2026. Regional Energy Security: Ukraine is set to expand fuel resilience via a MOL–Naftogaz memorandum for oil product storage facilities in Hungary, aimed at keeping reserves outside strike-prone areas. Carpathian Eight Business Push: The inaugural Carpathian Eight (C8) summit wrapped with a €40B investment portfolio of 95 projects and a new “Carpathian Integration Initiative,” with cross-border plans spanning energy, industry, transport/logistics and agri-food. Slovakia’s War Stance: Slovak PM Robert Fico again accused the West of “adding fuel to the fire” and said Slovakia won’t send soldiers to fight Russia on a “fabricated pretext,” keeping NATO Article 5 out of the equation. Trade & Tariffs Shockwaves: India’s Anand Sharma urged New Delhi to reject the U.S. Lindsay Graham Act and pause an “unequal” trade deal, warning 100% tariffs tied to Russian oil purchases could hit energy security and the economy. EU Economy Watch: Eurostat data showed EU construction output fell in July, with Slovakia among the few countries posting growth. Education Benchmark: OECD PISA results put Singapore at the top for reading, while also flagging declining performance across many OECD countries.

Carpathian Eight Deal-Making: Ukraine hosted the inaugural “Carpathian Eight” summit, bringing together Ukraine, Romania, Serbia, Poland, Slovakia, Czechia, Austria and Hungary (with EU involvement) to push security, energy, logistics and cross-border business ties, with Zelenskyy pointing to billions of euros in potential projects. Regional Investment Push: At the Carpathian Economic Forum, Ukraine’s PM Serhii Koretskyi said national pavilions and companies presented projects in energy, industry, transport/logistics and agri-food, with over €1bn in trade and investment proposals and a wider €40bn portfolio discussed across the bloc. Slovakia’s War Posture: Slovak PM Robert Fico again argued the West is “fueling” NATO-Russia conflict and said Slovakia won’t send soldiers to fight Russia “on a fabricated pretext,” keeping the domestic political line firmly anti-escalation. EU Construction Watch: Eurostat reported EU construction output fell 0.3% in July vs June, with Slovakia up 1.9% month-on-month, while Cyprus stayed comparatively strong. US Tariffs vs Russian Oil: Trump signed a Russia sanctions bill giving tariff powers up to 100% on major Russian oil/gas buyers, putting India and other importers under fresh economic pressure. EU AI Oversight: The EU AI Board reviewed how the AI Act moves from rules to practical market surveillance, transparency and enforcement priorities. EES Rollout Friction: EU allowed several Schengen states to pause EES rollout further due to operational issues, as queues and passenger disruption remain a business headache.

Carpathian Eight Deal-Making: Ukraine’s Zelensky kicked off the Carpathian Eight (C8) push, meeting young leaders from the region and urging faster housing support and better communication of home-buying programs, as the summit also produced 50 agreements worth over €1bn focused heavily on energy, transport and cross-border trade. Carpathian Economic Forum: PM Serhii Koretskyi highlighted investment projects in energy, industry, logistics and agri-food, with the forum drawing about 1,400 participants and nearly 400 companies across 25 countries. EU Sanctions Deadlock: Slovakia is pressing to delist Russian-linked oligarchs Mikhail Fridman and Alisher Usmanov, but France’s resistance is keeping EU decisions stuck, with sanctions renewal at risk of expiring unless a compromise lands. US Tariffs Shock: Trump signed a Russia sanctions bill giving sweeping tariff powers up to 100% on countries buying Russian oil and gas, putting major buyers like India and China under fresh pressure. Energy & Markets: Aramco halted crude supplies to India after attacks on a key pipeline, raising costs as oil tops $100. Defense Procurement: The US Army awarded $10.64m for Ukraine’s Raybird reconnaissance drones, while the US also approved S-300 clone missile sales to Ukraine. Slovakia Watch: Slovakia’s Fico warned NATO is drifting toward direct clash with Russia, echoing 1968 fears and rejecting Article 5 escalation.

Carpathian Eight Summit: Ukraine’s Zelenskyy launched the “Carpathian Eight” (C8) bloc with Romania, Serbia, Poland, Slovakia, the Czech Republic, Austria, Hungary and the EU, aiming to boost security, energy, logistics and cross-border business; the first summit in Bukovel/Ivano-Frankivsk comes as Russia strikes continue, and Zelenskyy says €1bn+ in deals are ready for signing. Energy Independence Push: Zelenskyy framed the region as a potential EU energy supplier via solar/wind, storage and new interconnectors, with an investment portfolio of 95 projects worth ~€40bn. US Tariff Shock for Central Europe: Trump signed a Russia sanctions bill giving sweeping power for up to 100% tariffs on countries buying Russian oil/gas—India and China are named, and Slovakia is listed among major buyers, raising trade and energy-cost risks. Slovakia Waste-to-Energy Setback: Slovakia’s environment minister definitively cancelled a planned waste incinerator near Dudince, arguing spa towns aren’t suitable for waste-to-energy plants. Rare Disease Pharma Milestone: IntraBio’s levacetylleucine (AQNEURSA) won FDA approval for ataxia in ataxia-telangiectasia, with Slovakia among trial sites.

Carpathian Eight Summit: Ukraine’s Zelenskyy launched the “Carpathian Eight” (C8) with Romania, Serbia, Poland, Slovakia, Czechia, Austria, Hungary and the EU, aiming to boost regional security, energy resilience, transport/logistics and cross-border trade as Russia strikes continue. Investment Push: At the summit, leaders unveiled a joint portfolio of 95 projects worth about €40bn, with 50 deals already prepared for signing (energy projects make up about half). EU Sanctions Deadlock: EU states again failed to agree on extending Russia sanctions, with France and Slovakia blocking a longer rollover tied to demands to remove Russian-linked billionaire Alisher Usmanov. US Tariff Risk for Energy Buyers: A new US Russia sanctions bill gives Trump broad power to impose up to 100% tariffs on countries buying Russian oil/gas or helping evade sanctions—Slovakia and Hungary are flagged as possible targets. Slovakia Environment: Slovakia’s environment minister Taraba cancelled a planned waste incinerator near Dudince after an appeal. Health/Business: IntraBio said the US FDA approved AQNEURSA® (levacetylleucine) for ataxia in ataxia-telangiectasia patients. Local Transport: A bus-train collision at a level crossing in Bratislava caused minor injuries and suspended services on the affected line.

NATO and Russia: Slovak PM Robert Fico says he will “do everything” to keep Slovakia out of war and questions whether NATO’s Article 5 would ever be invoked in a way that makes sense for Slovaks. Carpathian Eight: Ukraine launched the “C8” summit format in the Carpathians, bringing together Ukraine, Romania, Serbia, Poland, Slovakia, the Czech Republic, Austria, Hungary and the EU, with a focus on security, energy and cross-border logistics. EU pay transparency: More than 100 days after the deadline, only Greece, Italy, Lithuania, Malta and Slovakia have fully implemented EU pay transparency rules, while most others are still stuck in drafts or coalition deadlocks. Energy costs and taxes: EU finance ministers are set to discuss an EU-wide windfall tax on energy firms as oil prices jump again, with consumer pressure rising ahead of elections across several member states. EU budget talks: Five net-contributor countries are pushing for a smaller 2028–2034 EU budget, arguing the plan overfunds transfers while underfunding defence, competitiveness and innovation. Schengen pressure: Germany, Austria and other states are extending internal border checks, testing whether “exceptional” controls are becoming routine. Slovakia water project: Fico says experts will decide whether the Tichy Potok water reservoir project in eastern Slovakia should proceed, with feasibility and compensation plans to follow. Business/industry: MOL Hungary handed over a new solar farm and electricity storage system at its Algyő gas plant, aimed at boosting resilience and cutting emissions. Health services access: PsyAccess launched a registry-verified directory of licensed ketamine and psychedelic-assisted therapy providers across 27 European countries.

US–Russia Energy Sanctions: The US House passed a bill that could let President Trump impose up to 100% tariffs on the biggest buyers of Russian oil and gas, with Slovakia named among potential targets—raising new uncertainty for regional energy costs and trade. EU Sanctions Politics: EU lawmakers urged sanctions over the jailing of Hong Kong activists, while Slovakia and France are also pushing back in EU Russia-sanctions talks, showing how unanimity can stall decisions. Slovak Economy & Infrastructure: The D1 Ruzomberok bypass (Hubova–Ivachnova) is set to open on 5 October, a concrete boost for transport capacity. Water Project Decision: PM Robert Fico says experts will decide whether the Tichy Potok water reservoir should go ahead, with feasibility and compensation for affected landowners on the table. Industry & Investment: Nippon Steel plans to modernize the Košice steelworks as part of decarbonisation funding, positioning it as a major industrial investment. Business Moves: FibreNet hired an international sales lead, while Evonik is expanding biotechnology capacity in Slovakia. Tech & Privacy: A debate is growing in Europe over “smart glasses” privacy risks, with Slovak MEP Veronika Cifrova Ostrihonova saying she’s still awaiting EU answers.

US-Russia Sanctions & Tariffs: The US House passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, giving President Trump authority to impose up to 100% tariffs on major buyers of Russian oil and gas, with India, China, Slovakia, Hungary and Azerbaijan named among likely targets; the bill now heads to Trump for signature. Slovak Industry in Focus: A fire at ZVS Holding in Snina, tied to artillery ammunition production, was likely sparked during roof repairs; employees were evacuated, no injuries reported, and output at the affected facility was temporarily suspended. Biotech Investment in Slovakia: Evonik broke ground on an about €80m biotechnology expansion at its Fermas site in Slovenská Ľupča, aiming to add downstream fermentation tech and create around 50 jobs by early 2028. Corporate Moves: Nippon Steel plans a €900m steelmaking plant investment in Slovakia. Media & Trade: CJ ENM is expanding K-content distribution in Slovakia and the Czech Republic via TV Markíza and TV Nova, adding major drama titles to local lineups. Diplomacy & Business: Egypt’s industry minister urged Slovak firms to expand in Egypt through joint manufacturing and localization under the new economic cooperation framework.

Auto Industry & Tariffs: Land Rover is reportedly weighing a Defender pickup for the U.S. with Stellantis, aiming to build locally to dodge the “chicken tax” and other import duties that currently hit EU-made models including the Defender SUV produced in Slovakia. Defense & Industry: A fire at ZVS Holding’s ammunition production site in Snina was likely sparked during roof repair work during renovation; production in the affected part is temporarily suspended while authorities investigate. EU Security Push: The European Parliament adopted a Defense Readiness Omnibus, framing it as a response to the Ukraine war and speeding up rules for defense procurement, intra-EU transfers, and scaling drones, sensors and ammunition. Steel Investment in Slovakia: Nippon Steel plans a €900m investment in a new electric arc furnace in Slovakia, expanding its European production footprint. EU Travel Rules: The EU published the list of 29 countries whose citizens are exempt from EES registration (with Cyprus and Ireland also exempt). U.S. Trade Shock for Slovakia: The U.S. House advanced a bill that could enable up to 100% tariffs on major buyers of Russian oil and gas, with amendments naming India, China and also Slovakia among potential targets. Tourism Push: Slovakia is targeting GCC visitors with wellness and medical tourism, promoting its mineral and healing springs at ATM Dubai. Batteries Deal: InoBat and Palmer Energy Technology agreed a European battery energy storage partnership, including reciprocal supply and integration of Brill Power management tech.