In 2025, assets dependent on the end of the war showed rapid growth, but investors are acting cautiously due to risks to the Ukrainian economy. US activation in the peace process and a loan from the EU stimulated optimism, but large funds remain skeptical about the terms of the agreement.
On December 19, the European Union approved €90 billion in funding for Ukraine, which the country will repay after receiving reparations from Russia. Journalists found out how this process took place.
A Politico columnist predicts that the Russian-Ukrainian war will end next year on terms extremely unfavorable to Ukraine. This is due to the EU's inability to agree on the use of frozen Russian assets and insufficient funding.
The European Commission will investigate Czech state aid for the construction and operation of two new nuclear power units in Dukovany. This initiative aims to accelerate decarbonization and eliminate electricity supply shortages, with planned commissioning in 2036 and 2037.
The Czech Republic's Security Council will discuss the future of the initiative to supply artillery ammunition to Ukraine on January 7. Prime Minister Andrej Babiš expressed concerns about the transparency of the initiative.
EU taxpayers will pay €3 billion annually in interest on a loan to finance Ukraine's defense. The new plan will provide Ukraine with €45 billion next year, with the remaining funds to be paid in 2027.
Russia has decided to terminate military agreements with 11 European countries, concluded in 1992-2002. These agreements regulated bilateral military cooperation after the collapse of the USSR.
Czech Defense Minister Jaromír Zuna confirmed the continuation of the ammunition initiative for Ukraine until 2026. Funding has been secured for the purchase of 760,000 shells, and support for Ukraine is "a matter of course."
Hungarian Prime Minister Viktor Orban stated that he managed to prevent "a declaration of war on Russia" by allocating a 90 billion euro loan to Ukraine. In response, Polish Foreign Minister Radosław Sikorski ironically "awarded" Orban the Order of Lenin.
EU leaders agreed on a plan to finance Ukraine through joint borrowing after 16 hours of negotiations. Politico named Italian Prime Minister Giorgia Meloni and Belgian Prime Minister Bart De Wever as the main "winners" of the summit.
The European Council decided to allocate 90 billion euros in funding to Ukraine for 2026-2027. The funds will be based on EU borrowings without the use of Russian assets and without the involvement of the Czech Republic, Hungary, and Slovakia.
European Union leaders have not reached an agreement on using frozen Russian assets to finance Ukraine. Discussions on providing a loan will continue on December 19 at the summit in Brussels.
President Zelenskyy held talks with Czech President Petr Pavel. The situation on the front, particularly the operation in Kupyansk, and defense support for Ukraine were discussed.
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.
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 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.
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.
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.
A transnational network of fraudulent call centers operating in Kyiv, Dnipro, and Ivano-Frankivsk has been liquidated in Ukraine. The perpetrators defrauded EU citizens of over 50 million hryvnias using "vishing" and other schemes.
EU ambassadors in Brussels today are discussing the European Commission's amendments to the reparations loan proposal for financing Ukraine. These amendments aim to address the concerns of Belgium, as well as Italy, Bulgaria, and Malta, who are calling for alternative options.
Czech President Petr Pavel has appointed a new government led by Prime Minister Andrej Babiš. The government includes representatives of ANO, SPD, and "Motorists," who have taken 16 ministerial portfolios.
The European Union is facing a critical week as it tries to protect Ukraine from an unfavorable peace deal imposed by the US and Russia, and to save a multi-billion euro loan financing agreement for Ukraine. EU leaders will meet with Ukrainian President Volodymyr Zelenskyy and American officials in Berlin to discuss a peace deal, and will also fight for support for the lending plan among European governments.
The new Prime Minister of the Czech Republic, Andrej Babiš, stated that the country would not guarantee financing for Ukraine. He noted that the Czech Republic needs funds for its citizens and is lobbying for the restoration of access to preferential loans under the SAFE program.
Petr Fiala, the outgoing head of the Czech government, announced that the goal of supplying 1. 8 million large-caliber shells to Ukraine has been met. The new Czech government may discontinue this initiative, despite the president's support.
Ella Libanova stated that active shelling of cities encourages Ukrainians to temporarily move to villages for safety. She predicts that after the war, people will return to large cities.
Ukrainian President Volodymyr Zelenskyy congratulated Andrej Babiš on his appointment as Prime Minister of the Czech Republic. The head of state expressed hope for further development of cooperation, including the work of Czech businesses in Ukraine.
Czech President Petr Pavel appointed Andrej Babiš as Prime Minister on December 9, 2025. Babiš returns to power after four years in opposition.
Czech President Petr Pavel stated that European countries would start shooting down Russian planes and drones that violate their airspace if the violations continue. He noted that these violations are deliberate and aimed at testing air defense systems and the West's resolve.
Czech President Petr Pavel will appoint populist ANO party leader Andrej Babiš as prime minister on December 9. Babiš intends to take office in time to represent the country at the EU summit on December 18-19.
