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.
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.
NATO Secretary General Mark Rutte stated that Hungary, the US, Slovakia, and possibly a few other allies oppose Ukraine's membership in the Alliance. He noted that at the 2024 Washington Summit, allies agreed on Ukraine's irreversible path to NATO, but in practice, some members are against it.
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.
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.
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.
In Slovakia, a bus with 10 passengers and two drivers, all citizens of Ukraine, overturned on the D1 highway. Two female passengers were hospitalized with minor injuries, while the others continued their journey.
Trump invited Slovak Prime Minister Robert Fico to visit the United States in mid-2026. The visit is related to the signing of an intergovernmental agreement that could pave the way for the American company Westinghouse to participate in a nuclear power plant project worth 13-15 billion euros.
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.
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.
Italy, Belgium, Malta, and Bulgaria have opposed the EU's plan to transfer 210 billion euros of frozen Russian assets to Ukraine. They are calling on the European Commission to consider alternative options for financial assistance, such as joint EU debt.
The European Union has agreed to indefinitely freeze Russian central bank assets held in Europe. This removed a significant obstacle to using these funds to help Ukraine defend itself against Russia.
Slovak Prime Minister Robert Fico stated that he would not support the European Commission's proposal for a reparations loan to Ukraine using frozen Russian assets if the funds were to be used for military purposes. He sent a letter to the President of the European Council, António Costa, warning of a blockade of decisions regarding the financing of Ukraine's military needs for 2026-2027.
US sanctions against Russian oil giants Lukoil and Rosneft, which came into force on November 21, could cause a structural reorganization of the global oil sector. This will lead to the forced sale of assets and the redistribution of ownership of fields and refineries around the world.
The Washington Post reports on the outlines of a future peace agreement for Ukraine, which includes EU membership by 2027 and security guarantees from the US. The agreement provides for a demilitarized zone and territorial exchange, but Donald Trump could influence the course of negotiations.
Hungary and Slovakia will file a motion with the European Court of Justice to overturn the RePowerEU plan, which provides for a complete ban on imports of Russian gas and oil. Hungarian Foreign Minister Péter Szijjártó stated that this step is due to the threat to secure energy supply and rising prices.
Warming up the engine before starting to drive in winter is a debatable issue among drivers. In some European countries, it is prohibited for environmental reasons, while in Ukraine, the decision rests with the driver.
The US is trying to block EU plans to use frozen assets of the Russian central bank to support a loan to Ukraine. Washington believes that these assets are necessary to secure a peace agreement between Kyiv and Moscow.
Ukraine is resuming the work of its Consulate General in Prešov, Slovakia, after an 11-year hiatus. The grand opening will take place on December 5 with the participation of the foreign ministers of both countries.
Lawmakers from Hungarian Prime Minister Viktor Orban's party have submitted a bill that makes it harder to remove the president from office. The amendment comes four months before elections in which the opposition seeks to reverse Orban's consolidation of power.
Oil prices rose: Brent to $63. 02, WTI to $59.36. Attacks on Russian oil pipelines and lack of progress in peace talks contribute to rising prices.
Hungary and Slovakia will appeal to the EU's highest court to challenge the agreement to phase out Russian gas by September next year. Hungarian Foreign Minister Péter Szijjártó stated that the new restrictions are unacceptable, as Hungary cannot ensure energy supply without Russian sources.
The European Union has agreed on final rules that provide for a gradual cessation of Russian natural gas imports. A full embargo on supplies will come into force by the end of 2027 after approval by the EU Council and the European Parliament.
The European Commission is proposing a legal solution to avoid Belgium having to pay billions of euros if Hungary vetoes the extension of sanctions against Russia. This would allow €140 billion of frozen Russian assets to be used as a loan to Ukraine.
NATO is stepping up preparations for a possible confrontation with Russia, while the US is reducing its military presence in Europe. The number of American troops has already been reduced in Romania, and similar steps are planned in Bulgaria, Slovakia, and Hungary.
