European Commission plans ‘reparations loan’ to Ukraine using frozen Russian assets

The European Commission is advancing a plan to utilize frozen Russian assets to support Ukraine amid ongoing conflict, as President Ursula von der Leyen addresses the media following a commission meeting. This initiative aims to provide financial assistance to Ukraine's efforts against Russia, despite the Kremlin's assertion that President Putin did not reject a U.S. peace plan but found certain aspects unacceptable.

The European Union has launched a $3.5 billion package aimed at enhancing the supply of raw materials within the bloc. This initiative includes the establishment of a center to monitor mineral supplies and promote joint investments among member states.

A Russian court has sentenced US citizen Robert Gilman to an additional two years in prison, following his initial incarceration in 2022 for a drunken assault on a police officer. This development was reported by state media on Wednesday.

Francis Fukuyama, a prominent political scientist and author of 'The End of History and The Last Man', expressed his disappointment regarding the election of Donald Trump as U.S. President, labeling it as the most surprising and disappointing event in decades. Fukuyama criticized Trump for exhibiting authoritarian tendencies and for attempting to negotiate a controversial deal with Russia concerning Ukraine.

Russian President Vladimir Putin met with U.S. Special Envoy Steve Witkoff in Moscow to discuss the ongoing conflict in Ukraine, characterizing the talks as 'constructive' while acknowledging that significant work remains to achieve peace. During the meeting, Putin accused Kyiv’s European allies of undermining U.S.-led efforts to resolve the war.

The European Union has introduced a €3 billion strategy aimed at reducing its reliance on China for critical raw materials, particularly rare earth metals. This initiative, known as the ReSourceEU program, is designed to diversify and de-risk supply chains amid increasing geopolitical tensions and supply vulnerabilities exacerbated by China's control over these essential resources.

Oil prices have risen as market traders express concerns over the low likelihood of a peace agreement between Russia and Ukraine in the near future. This sentiment reflects ongoing geopolitical tensions and uncertainty surrounding the conflict, which continues to impact global oil supply dynamics.

Pope Leo has emphasized the critical role of European nations, particularly Italy, in mediating peace talks aimed at resolving the ongoing conflict in Ukraine, amidst stalled negotiations between Russia and the US. The pontiff's remarks come as tensions escalate, with Russian President Vladimir Putin accusing Europe of obstructing peace efforts.