Hungary has pulled out of hosting the ISU European Figure Skating Championships in 2024 due to the economic impact of Russia’s ongoing war in neighboring Ukraine.

Explaining its decision, the Hungarian National Skating Federation cited "the prolonged war in our country's neighborhood, its impact on the economy and the energy prices that are significantly affecting the sport of skating" and "lack of sufficient funding to organize a high-quality competition."

The annual competition was scheduled to be held in Budapest from January 22 to 28.

The championships were set to be the Hungarian capital's eighth hosting of the event following previous editions in 1895, 1909, 1955, 1963, 1984. 2004, and 2014. 

The International Skating Union (ISU) world governing body must now find a new host at short notice and has reopened the bidding process, with a deadline of May 26 for applications to be submitted.

This year's event was held in Finland in January without Russia, the continent's leading figure skating nation, whose skaters remain banned from ISU competitions because of the invasion of Ukraine.

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