In a significant political shift, Viktor Orban (former Prime Minister of Hungary) lost the recent national election to the centre-right Tisza party after 16 years in office. Peter Magyar, the leader of the Tisza party and a former ally of Orban, is expected to take over as Prime Minister. Orban's administration, known for its 'illiberal' democracy and close ties with Russia, faced mounting criticism due to economic stagnation and rising inequality. His defeat is seen as a setback for former US President Donald Trump, who had publicly supported Orban and viewed him as a key ally in Europe. Trump's administration had staked its diplomatic reputation on Orban's continued leadership, with Vice President JD Vance visiting Hungary to endorse him. The European Union, on the other hand, views Orban's loss as an opportunity to strengthen ties with Hungary, which had been a vocal opponent of EU policies. The new government under Magyar is expected to facilitate a €90 billion loan to Ukraine that was previously blocked by Orban, signaling a potential shift in Hungary's foreign policy.