2 w. ago Friedrich Merz wants Berlin to be a geopolitical hub. Will German voters reward him?

The chancellor is pursuing a risky quest for European leadership, and last week’s setback over Russian reparations is unlikely to knock him off courseFriedrich Merz’s three-month bid to catapult Germany into the role of undisputed leader of Europe has come unstuck.His call for Europe to hand Ukraine access to €201bn (£176bn) in frozen Russian central bank assets via a reparations loan was rejected at a decisive European Council meeting in Brussels. Continue reading...

Politics

3 w. ago Boris Johnson tells Starmer to 'show some spine' and use £20billion of frozen Russian assets in fight against Putin

The former Prime Minister told the Daily Mail Britain should unilaterally unfreeze up to £20billion in Russian assets held in London.

Economics

3 w. ago Zelenskyy and Polish PM hail EU’s €90bn loan: ‘Scariest thing for Russians is when we’re together’ – live

Ukrainian leader welcomes move as Donald Tusk says ‘it could be better’ after Russian frozen assets left out of dealEU leaders agree €90bn loan for Ukraine but without use of frozen Russian assetsIn his first comments on Ukraine, Putin swiftly blames Kyiv for the continuing war, saying “they are basically refusing to finish this conflict via peaceful means” (whatever that means from the literally invading party).But he says there are “some signals indicating they are willing to engage in some type of dialogue.” Continue reading...

Politics

3 w. ago EU’s Ukraine loan may have been Plan B, but don’t underestimate its significance to the bloc

This €90bn agreement won out over a plan to use frozen Russian assets, but has been hailed a ‘huge deal for the EU’The EU’s failure to agree a “reparations loan” to Ukraine backed by frozen Russian assets was a political blow to the bloc’s big beasts, but the last-gasp alternative it devised will do the job – and marks a potentially significant first.After a marathon 16 hours of talks, EU leaders early on Friday agreed to fund Ukraine, which risked running out of money by next April, with a much-needed €90bn (£79bn) loan. But the solution they came up with was not the one most had wanted. Continue reading...

Politics

3 w. ago Ukraine war live: Zelenskyy says EU’s €90bn loan is a ‘signal to Russians’ despite frozen assets not being part of deal

Ukrainian leader welcomes move and says it is critical Russian assets remain frozenEU leaders agree €90bn loan for Ukraine but without use of frozen Russian assetsIn his first comments on Ukraine, Putin swiftly blames Kyiv for the continuing war, saying “they are basically refusing to finish this conflict via peaceful means” (whatever that means from the literally invading party).But he says there are “some signals indicating they are willing to engage in some type of dialogue.” Continue reading...

Economics

3 w. ago Ukraine war live: Zelenskyy says EU’s €90bn loan is a ‘signal to Russians’

Ukrainian leader welcomes move and says it is critical Russian assets, which are not part of the deal, remain frozenEU leaders agree €90bn loan for Ukraine but without use of frozen Russian assetsIn his first comments on Ukraine, Putin swiftly blames Kyiv for the continuing war, saying “they are basically refusing to finish this conflict via peaceful means” (whatever that means from the literally invading party).But he says there are “some signals indicating they are willing to engage in some type of dialogue.” Continue reading...

Events

3 w. ago Europe shows its commitment to Ukraine — but not unequivocally

When it came to using frozen Russian assets as leverage, the EU blinked

Politics

3 w. ago Vladimir Putin boasts EU failed its 'robbery' of handing frozen Russian assets to Ukraine because leaders fear 'grave consequences': Live updates

LIVEBLOG: Follow the latest developments as Vladimir Putin insists he is 'ready and willing' to discuss peace in Ukraine at his annual end of year press conference.

Politics

3 w. ago Why the EU could not agree on using £80bn of frozen Russian assets to fund Ukraine’s war effort

Disagreements within the bloc prevented a deal being struck to use the assets

Economics

3 w. ago EU leaders agree to lend Ukraine £79billion after deal to give them Russian frozen assets unravels

The massive interest-free loan will help Ukraine meet its military and economic needs for the next two years, leaders said after more than a day of talks at a summit in Brussels.

Economics

3 w. ago Ukraine deal: EU leaders agree €90bn loan, but without use of frozen Russian assets

Two-year deal will cover most of Ukraine’s needs, but will be secured against EU borrowing rather than Russian assetsEuropean Union leaders have decided to provide a massive interest-free loan to Ukraine to meet its military and economic needs for the next two years, after failing to agree on using frozen Russian assets, diplomats said in the early hours of Friday.“We have a deal. Decision to provide €90bn ($106bn) of support to Ukraine for 2026-27 approved. We committed, we delivered,” EU Council president Antonio Costa said in a post on social media. Continue reading...

Politics

3 w. ago EU agrees €90bn loan to Ukraine after frozen Russian asset plan fails

Money to be borrowed against bloc’s budget after leaders fail to agree on proposal using Moscow’s funds

Events

3 w. ago UK set to 'share risk' with the rest of the EU by leveraging capital from frozen Russian assets to help Ukraine

The development comes after Belgium said it would only back a loan for Ukraine if it receives assurances it will be shielded from Russian retaliation.

Events

3 w. ago The Guardian view on the EU and Ukraine: a moment of truth for Brussels and Kyiv | Editorial

The plan to mobilise Russia’s frozen assets is morally compelling and ingenious. The problem is that its enemies will never see it that wayMorally, the decision facing the European Council in Brussels this week has been a no-brainer. Russia invaded Ukraine illegally and unilaterally. Moscow shows no sign of wanting peace. It actively threatens other countries too, including Britain. Ukraine is running out of money. Yet £184bn worth of Russian assets remain frozen in Europe, notably in Belgium. That money should therefore be mobilised to fund Ukraine. To many, this would be the enactment of a clear and present duty, proof positive that Europe can still be a heavy hitter.In the messy reaches of the real world, however, things have not been straightforward. Law, economics and politics all managed to insinuate themselves, sometimes venomously, into the intense buildup to Brussels. Reparations can have lethal political consequences. Seizure of assets will undoubtedly face legal...

Politics

3 w. ago Russia has few legal options to challenge EU frozen asset plan

A core question for European Union leaders discussing whether to use frozen Russian assets to help Ukraine is whether the idea is legally sound

Politics

3 w. ago Ukraine may need to cut drone production if no deal reached on frozen Russian assets, says Zelenskyy – Europe live

Ukrainian president says case for transfer of assets to fund war effort is ‘morally clear and just’ Germany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Economics

3 w. ago Polish independence could be under threat if Ukraine forced to capitulate, Donald Tusk warns – Europe live

Warning comes as EU leaders discuss sending frozen Russian assets to UkraineGermany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Events

3 w. ago Polish independence ‘under threat’ if EU cannot come to decision on giving Russian assets to Ukraine, says Poland’s Tusk – Europe live

Warning comes as EU leaders attempt to reduce the risks from Russian retaliation against Belgium, which holds most of the €210bn of frozen Russian assetsGermany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Events

3 w. ago Russia warns it will ‘recover damages’ as EU leaders begin debate on giving frozen assets to Ukraine – Europe live

Zelenskyy warns of ‘big problems for Ukraine’ if no deal reached to unlock €210bn in frozen Russian assetsGermany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Events

3 w. ago Why can’t the EU agree on using £80bn of frozen Russian assets for the Ukraine war?

Ukraine’s allies in Europe are trying to find support but there are disagreements within the bloc

Economics