President Volodymyr Zelenskyy stated that Ukraine will be forced to significantly reduce drone production if it does not receive funding in the spring, including a reparations loan. These funds are planned to be used for the country's recovery or for drone production if the war continues.
Technical groups at the EU summit are working to find ways to finance Ukraine, which could take hours. Discussions on a loan for Ukraine are moving in the right direction, a German official assessed.
Three Russian border guards illegally crossed the border of Estonia, an EU and NATO member. They crossed the control line on the Narva River on foot and then returned to Russian territory.
EU countries have offered additional guarantees to Belgium to support a plan to provide Ukraine with a 210 billion euro loan from frozen Russian assets. Unused loan funds will be the first line of defense if the EU has to compensate Russia for damages.
The European Union has imposed sanctions against 41 vessels of Russia's "shadow fleet. " This decision was made within the framework of the sanctions regime for Russia's aggressive war against Ukraine.
Hungarian Prime Minister Viktor Orban said that the EU plan to use frozen Russian assets to finance Ukraine is “dead. ” According to him, not enough leaders supported the idea.
President Zelenskyy stated that the EU's refusal to use frozen Russian funds would weaken Ukraine, potentially affecting the course of the war and diplomacy. He emphasized that without these funds, Ukraine would be in a more vulnerable position, which would reduce Russia's interest in a diplomatic settlement.
Ukrainian President Volodymyr Zelenskyy has arrived in Brussels for the EU summit. The summit will address the issue of financing Ukraine and the use of frozen Russian assets.
Volodymyr Zelenskyy stated that the issue of using frozen Russian assets for Ukraine's needs depends on the political will of partners. The President noted that these funds could be directed to support the Ukrainian army and defense production.
At Thursday's EU summit, leaders will try to persuade Belgium to agree to the use of frozen Russian assets to finance Ukraine. This is the EU's last chance to greenlight a proposal to raise 210 billion euros from Russian assets.
EU diplomats are trying to find a compromise on financial aid to Ukraine ahead of the bloc's leaders' summit. Options being considered include a loan based on frozen Russian assets or joint EU debt.
Russian intelligence organized a campaign to intimidate Belgian politicians and Euroclear top managers to block the use of frozen Russian assets for the benefit of Ukraine. The attack targeted key Euroclear officials, where most of Russia's frozen assets are held.
The US does not support EU initiatives to confiscate Russian sovereign assets, warning of possible consequences. They consider frozen assets a flexible leverage in future negotiations.
The Danube Commission has decided to create a Register of Damages from Russian aggression on the Lower Danube. This will ensure systematic collection of data on the damages caused and their transfer to the Council of Europe and the EU for compensation.
German Chancellor Friedrich Merz emphasized the importance of the EU's plan to use frozen Russian assets to finance Ukraine's defense. This will increase pressure on Putin and accelerate the end of the war, despite some countries' fears of possible reprisals.
Serbian President Aleksandar Vučić stated that his country will not participate in the meeting of EU leaders with their counterparts from the Western Balkans. This is Vučić's personal decision, who claims to be protecting the interests of Serbia, which has made little progress in its bid to join the EU.
Belgium has appealed to the EU with a proposal to activate an emergency provision for issuing joint debt to finance Ukraine's war efforts.
Vladimir Putin stated that Russia would achieve its military goals in Ukraine by force or diplomatically, calling European leaders "piglets. " He accused the previous US administration of provoking the conflict and threatened to liberate "historical lands" on the battlefield.
Orban announced that Moscow was preparing a "harsh response" to the EU's decision on the use of frozen Russian assets. He stated that he had personal communication with Vladimir Putin.
KNDS, the manufacturer of Leopard 2 tanks, has confirmed its intention to conduct an initial public offering in 2026. A dual listing on the Paris and Frankfurt stock exchanges is planned to expand access to capital amid record demand for defense products.
Italian Prime Minister Giorgia Meloni said that using frozen Russian assets to finance Ukraine is a “far from easy” task. She emphasized the need for a strong legal basis and avoiding open-ended commitments for countries.
The European Parliament has finally approved a phased rejection of Russian gas imports by the end of 2027. The ban on imports of Russian liquefied natural gas on the EU spot market will come into effect at the beginning of 2026, and pipeline gas imports will cease by September 30, 2027.
ICU, a company that served the circles of Yanukovych and Poroshenko, avoids investigations despite working with sanctioned individuals and Russian state banks. Serhiy Lyamets, former editor of "Ekonomichna Pravda," believes that only the US and EU can investigate ICU's financial operations.
Dmitry Peskov stated that the Kremlin would not agree to the presence of military personnel from EU countries on the territory of Ukraine, arguing that this could lead to the presence of NATO military personnel. He emphasized that Moscow's position on this issue is consistent and clear.
European Commission President Ursula von der Leyen announced the possibility of financial support for Ukraine through the issuance of joint EU debt, as an alternative to using frozen Russian sovereign assets. This comes ahead of a meeting of EU leaders where ways to finance Ukraine will be discussed amid its expected deficit of 135 billion euros by 2027.
Hungary has blocked the European Union's enlargement statement, preventing Ukraine from starting EU accession negotiations. 26 EU member states support Ukraine, but Hungary did not support a positive assessment of its efforts.
The US and European allies have prepared two draft documents on supporting Ukraine after a potential "peace agreement," which were discussed with President Zelenskyy in Berlin. The documents outline general principles and detailed provisions for force interaction, and also envisage increasing the number of the Armed Forces of Ukraine to 800,000 servicemen.
A Care Space for veterans has opened in Bila Tserkva, providing medical, psychological, social, and legal support. The project was implemented by the Ministry of Veterans Affairs and the Ministry of Health with the support of IOM and the EU, as part of a national network.
German Chancellor Friedrich Merz estimates the EU's chances of reaching an agreement on using frozen Russian assets to finance Ukraine's defense as "50-50. " EU leaders are expected to agree on the issue of using frozen Russian assets for a "reparation loan" to Ukraine at the summit on December 18-19.
The FCAS fifth-generation fighter jet program between France, Germany, and Spain has fallen into a deep crisis due to strategic disagreements. The project's implementation is now "very unlikely," and a decision on it will likely be postponed until 2026.
