Belgium is slowing down the EU's decision to transfer frozen Russian assets to Ukraine, fearing legal claims from Russia and undermining trust in its financial institutions. This could also affect peace negotiations with Russia, which might refuse dialogue.
The Russian economy is entering its final phase in 2025 with a rapid deterioration of corporate performance, an increase in non-payments by state structures, and a deepening crisis in entire sectors. The accumulated net financial result of organizations in January–September fell by 7.7% year-on-year, and the total losses of Russian organizations over nine months increased by almost a quarter year-on-year, reaching 6.52 trillion rubles.
Member states of the International Maritime Organization did not support Russia, which failed to secure a seat on the IMO Council. For several months, Ukraine had been explaining to its partners the true picture of Russian attacks on ports and civilian vessels.
Hungarian Prime Minister Viktor Orban, during a meeting with Russian dictator Vladimir Putin, stated Budapest's readiness to provide a platform for negotiations on "conflict resolution" in Ukraine. The leaders also discussed a possible Russian-American summit in Budapest and cooperation in the energy sector.
EU countries are increasing pressure on Belgium to unblock 140 billion euros of frozen Russian reserves. Belgium is accused of concealing information about tax revenues received from these assets.
The Asset Recovery and Management Agency has started collecting tender proposals for IDS Ukraine assets until December 12, 2025. The auction will take place on Prozorro in December 2025, with expected budget revenues of at least UAH 24 million per month.
Russia's international reserves fell by $5. 0 billion in a week, and Russian companies' losses sharply increased in 2025. The share of unprofitable coal enterprises reached 68.1%, and passenger car production decreased by 46.7%.
Belgian Prime Minister Bart De Wever stated that the EU's plan to use frozen Russian assets to finance Ukraine could harm a peace agreement. Belgium has not seen the legal wording from the European Commission, which will present a proposal this week on the use of the assets.
US President Donald Trump said that the US would "very soon" start stopping suspected Venezuelan drug traffickers by land. This is a continuation of efforts that already stop about 85% of drug trafficking by sea.
The European Commission is urging Western allies to speed up payments on a $50 billion loan to Ukraine. This comes as Belgium is stalling EU efforts to support Ukraine with a larger financing scheme using Russian assets.
The Central Bank of Russia reported a deterioration in the financial condition of enterprises and an increase in problem debt. The net profit of companies decreased by 23% in the first eight months of 2025.
The sanctions coalition imposed restrictions on over 500 entities in Russia's energy sector, including oil tankers and financial institutions. This led to a decrease in the price of Russian oil and a reduction in its exports, forecasting significant losses for the Russian budget.
US President Donald Trump will host the G20 at his golf resort in Miami next year, personally determining the guest list. He will not invite South Africa, which chairs the G20 this year and has incurred his wrath.
Latvia, the leader of the Drone Coalition, has supplied Ukraine with about 12,000 drones this year. President Zelenskyy discussed defense support and sanctions pressure on Russia with Latvian Foreign Minister Baiba Braže.
The Parliament of Moldova has denounced the agreement with Russia on cultural centers, which will lead to the closure of the "Russian House" in Chisinau. The decision was supported by 57 deputies due to violations of Moldovan airspace by Russian drones.
The European Parliament has adopted a resolution calling on the EU to take more responsibility for European security and support peace in Ukraine. MEPs believe that lasting peace must be preceded by an effective ceasefire and reliable security guarantees from the EU and the US.
EU officials do not expect new sanctions against Russia before the holidays, and discussions on the 20th sanctions package are reportedly not expected to begin until January. This package will reportedly focus on closing loopholes, particularly in the export of natural rubber, which is used in Russia's defense industry.
Donald Trump set a deadline for Ukraine to agree to the White House's 28-point plan to end the war, which he later postponed. Expert Stanislav Zhelikhovsky believes that the plan needs refinement, as Ukraine, as a party to the conflict, needs to be heard.
The Japanese government denied reports that Donald Trump advised Prime Minister Sanae Takaichi not to provoke China over Taiwan. This was a response to publications by The Wall Street Journal and Reuters, which claimed such advice.
According to YouControl, 5,817 Ukrainian companies and 686 individual entrepreneurs have probable ties to Russian businesses as of November 2025. Their total revenue in 2024 amounted to UAH 150.3 billion, which is one-third more than in 2023.
American analysts have identified little-known sanctions that could harm the Russian war machine, focusing on chemicals for lubricants and tires. Blocking the Chinese company Xinxiang Richful and other suppliers could create a shortage of these critical materials.
Russia will close Poland's Consulate General in Irkutsk after December 30, 2025. This decision is a response to Poland's withdrawal of consent for the functioning of Russia's Consulate General in Gdańsk from December 23, 2025.
Estonian Foreign Minister Margus Tsahkna stated that there are no signs of a quick peace in Ukraine. He noted that Putin is using a tactical moment to increase pressure on the front and civilians, expressing skepticism about a US-led peace agreement.
Lithuanian Foreign Minister Kęstutis Budrys emphasized that concessions to Russia regarding borders threaten the security of Lithuania and Europe. He named three key levers of support for Ukraine: the use of frozen Russian assets, accelerated Ukrainian membership in the EU, and the creation of a Special Tribunal.
The Central Bank of Russia has begun direct sales of gold from its reserves on the domestic market. This is aimed at supporting the ruble and covering budget needs.
According to the depository's management, this could scare investors in European government debt and lead to countermeasures from the Russian side.
Brent crude futures fell 0. 5% to $62.8 a barrel, while US West Texas Intermediate crude futures lost 0.6% to $58.33. The price decline is linked to expectations of progress in peace talks between Russia and Ukraine, which could lead to the lifting of sanctions on Russian supplies.
Thanks to sanctions, Russian oil exports have already decreased by 15-20%, and crude oil production in the Russian Federation will decrease by 5% by the end of the year. The 20th package of EU sanctions is being discussed, which includes restrictions on the financial sector and the infrastructure of the shadow fleet.
The US Department of Defense proposes adding Alibaba, Baidu, and BYD to the list of companies posing a national security threat due to their ties with the Chinese government. Deputy Secretary of Defense Stephen Feinberg informed lawmakers of this decision on October 7.
Romania has agreed to introduce supervision of sanctioned companies, which also applies to Russia's "Lukoil".
