Sanctions
Belgium has appealed to the EU with a proposal to activate an emergency provision for issuing joint debt to finance Ukraine's war efforts.
Trump ordered a full blockade of all sanctioned Venezuelan oil tankers. Caracas condemned the move as an open act of aggression, while Trump accused the government of Nicolas Maduro of drug trafficking and human trafficking.
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.
European Council President António Costa stated that the EU will not impose a reparation loan for Ukraine at the leaders' summit if Belgium opposes it. This is a departure from his previous position, where he noted that the scheme only required a qualified majority.
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 United Kingdom will officially issue an order to transfer £2. 5 billion from the sale of Chelsea FC for humanitarian purposes in Ukraine. Prime Minister Keir Starmer stated that this is Roman Abramovich's last chance to fulfill his obligations, otherwise legal action will be taken.
The Ministry of Foreign Affairs of Ukraine welcomes the decision of the San Francisco International Wine Competition to disqualify 15 Russian wineries from the 2025 competition. Their wines will be disposed of due to violations of US sanctions legislation imposed in response to Russia's full-scale invasion of Ukraine.
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.
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.
The US is considering new sanctions against Russia's energy sector, including its "shadow fleet" of tankers, if Putin rejects a peace deal with Ukraine. These measures could be announced as early as this week, as discussed by US Treasury Secretary Scott Bessent with European ambassadors.
Rating agency Fitch has placed Euroclear Bank's ratings on Rating Watch Negative due to EU plans to use frozen Russian assets for a 'reparations' loan to Ukraine. This could lead to increased legal and liquidity risks for Euroclear.
The European Commission is trying to persuade Belgian Prime Minister Bart De Wever to support a proposed loan to Ukraine, financed by immobilized Russian assets. De Wever expresses concerns about the risks to the Belgian economy if Russia tries to reclaim the assets.
The EU leaders' summit on Thursday will test whether the bloc can hold together or whether US President Donald Trump can divide it. Officials of the Trump administration have been pushing European governments to reject a plan to use 210 billion euros of Russian assets to finance Ukraine.
American lawmakers have introduced a bipartisan bill that provides for sanctions against the purchase or facilitation of imports of Russian oil. The document creates a legal framework for increasing sanctions pressure on Russia's oil revenues.
Oil quotes rose after US President Donald Trump announced a blockade for all sanctioned tankers entering and leaving Venezuela. Brent quotes rose by 0.9% to $59.46 per barrel, and American WTI rose by 1% to $55.82.
On December 16, US President Donald Trump ordered a complete blockade of all sanctioned oil tankers entering or leaving Venezuelan territorial waters. He accused Venezuela of stealing American assets and declared its government a "foreign terrorist organization."
US President Donald Trump has signed an order to tighten restrictions on the entry of foreign nationals into the United States. The restrictions apply to 5 new countries and individuals with Palestinian Authority travel documents, and are extended for 12 high-risk countries.
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.
Trump has added Colombia's largest cocaine cartel, the Clan del Golfo, to the list of terrorist organizations. The US threatens to use "all available means" against such groups in Latin America.
The "Ramstein-32" meeting brought Ukraine record financial commitments for 2026, including 11. 5 billion euros from Germany and 7 billion dollars from Norway. Partner countries also transferred new Patriot and IRIS-T air defense systems, and allocated funds for drones, artillery, and ammunition.
The US President called the bloc's members 'weak', but joint action on funding for Ukraine would send a 'very strong signal', according to Kaja Kallas.
There is no certified organization in Ukraine that has the right to determine the originality of parts for Mi-8MT helicopters, which led to the seizure of weapons and the return of two helicopters to military units without combat capability. This creates a technical, legal, and security vacuum, jeopardizing the country's defense capabilities.
The European Parliament will fast-track consideration of a proposal for a reparations loan for Ukraine, which will be secured by European Commission borrowings against frozen Russian assets. The vote will take place at the plenary session in January 2026.
On December 16, the Russian Ministry of Justice added the German media company Deutsche Welle to the register of "undesirable organizations," criminalizing its activities in the country. DW Director General Barbara Massing stated that this would not stop the broadcaster's work, and the Russian audience's interest in independent content is growing.
Ukrainian Foreign Minister Andriy Sybiha named five reasons why this step must be taken now.
Russian oil prices have fallen to their lowest level since the start of the war, as sanctions deepen the discounts the country's oil industry is forced to offer. Exporters are receiving just over $40 a barrel, down 28% compared to the last three months, while global benchmark oil prices are also falling.
Despite economic problems, Russia continues to increase the production of tanks, drones, helicopters, and missiles. This indicates Putin's attempt to compensate the elites of the defense complex for sanctions losses and the Kremlin's unwavering course towards continuing the war.
Belgium opposed the European Commission's proposals to unblock a €210 billion loan for Ukraine, financed by frozen Russian assets. This dashes the EU's hopes for a deal before the leaders' summit, as Belgium considers the guarantees provided insufficient.
Leaders of eight EU countries bordering Russia will demand targeted defense funding in the next long-term budget of the bloc at a summit in Helsinki. This is due to growing concerns about Russia's aggressive actions, which are testing their borders.