Kyiv says external funding critical, urges EU to unlock Russian assets

Ukraine faces a critical juncture as Kyiv grapples with choices that present immediate challenges and potential long-term consequences, reflecting a Catch-22 situation where decisions made now could lead to worse outcomes later. The ongoing conflict with Russia exacerbates these dilemmas, particularly in the context of financial stability and international support.

German Chancellor Friedrich Merz is set to request the European Union to reconsider the 2035 ban on the sale of new petrol and diesel cars, aiming to protect the struggling automotive industry. He plans to send a letter to European Commission President Ursula von der Leyen, advocating for exemptions to keep technological options available for car manufacturers.

Belgium's Prime Minister Bart De Wever has criticized the EU's proposal to utilize frozen Russian assets to support Ukraine, labeling the plan as fundamentally wrong and a violation of international law. He expressed concerns that such actions could destabilize financial markets and harm the euro, casting doubt on Europe's ability to fund Ukraine amidst its ongoing conflict with Russia.

The European Union (EU) is set to unveil a plan aimed at reducing its reliance on raw materials sourced from China, a move that reflects growing concerns over the bloc's dependency on Chinese imports. This initiative comes amid increasing competition and market dominance by China, as highlighted by the European Central Bank's chief economist.

A campaign group has urged the European Union to reject pleas from automakers regarding biofuels, emphasizing the need for stricter environmental regulations. This call comes amid ongoing debates about the automotive industry's role in climate change and sustainability efforts.

Belgium's Premier Bart De Wever has expressed concerns that using frozen Russian assets to finance a proposed €140 billion EU loan to Ukraine could jeopardize potential peace negotiations between Ukraine and Russia. De Wever outlined specific conditions that would alleviate his objections to the loan proposal.

Europol has seized over 8 million counterfeit and potentially harmful toys from shops and markets across 26 EU countries in a pre-Christmas operation. The confiscated items include fake dolls, building bricks, toy cars, and educational games that may pose health risks to children.

Euroclear has issued a warning to the European Union regarding its plan to utilize frozen Russian assets to secure €140 billion in loans for Ukraine, indicating that this strategy could result in increased borrowing costs for EU member states. The warning highlights potential financial repercussions stemming from the ongoing geopolitical tensions surrounding Russia's actions in Ukraine.