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Russia-Ukraine Conflict

Ukrainian President Volodymyr Zelensky said no consensus had been reached on a peace plan with Russia and Western partners following a recent round of talks with U.S. and European officials, Ukraine's national public broadcaster Suspilne reported on Dec. 18.

Ukraine, U.S.: Zelensky Signals Stalemate Ahead of Miami Talks

Economics

Energy

Military & Security

The U.S. Trump administration plans to target Russia's energy sector with a new package of sanctions if the Kremlin rejects a peace deal plan that the United States and Ukraine are finalizing, Bloomberg reported on Dec. 17, citing multiple unnamed sources familiar with the plan.

Russia, U.S.: Washington Reportedly Preparing New Sanctions on Russian Energy

Ukrainian President Volodymyr Zelensky ruled out recognizing the Donbas region as Russian territory "either de jure or de facto," Interfax-Ukraine reported on Dec. 16.

Ukraine, Russia: Zelensky Rules Out Territorial Concessions in Donbas

Germany

Ukrainian President Volodymyr Zelensky, German Chancellor Friedrich Merz and U.S. envoys Steve Witkoff and Jared Kushner concluded two days of negotiations on a security guarantees for Ukraine as part of a potential Russia-Ukraine peace framework, the Financial Times reported on Dec. 15.

Ukraine, U.S.: Berlin Talks Advance Security Framework But Leave Territory Unresolved

Kremlin aide Yuri Ushakov said any Russia-Ukraine ceasefire would require Ukraine's full withdrawal from the Donbas region, Kommersant reported on Dec. 12.

Russia, Ukraine: Moscow Signals Rigid Donbas Preconditions as Allies Revise Peace Plan

Europe

EU member states are set to formally approve on Dec. 12 a European Commission proposal to indefinitely immobilize around 210 billion euros (roughly $246 billion) in Russian central bank assets held in Europe, replacing the current six-month sanctions rollover that requires unanimity, Reuters reported the same day.

Europe, Russia, Ukraine: EU Moves To Freeze Russian Central Bank Assets Indefinitely

Ukrainian President Volodymyr Zelensky announced that Kyiv and its European partners are ready to present "refined" peace proposals to Washington following high-stakes meetings in London, Brussels and Rome, Reuters reported on Dec. 9.

Ukraine, Europe: Zelensky's Diplomatic Marathon Tests Western Unity Against Trump's Christmas Deadline

In an interview with Bloomberg News, Ukrainian President Volodymyr Zelensky revealed that Kyiv was seeking a standalone security agreement from Western allies and "above all the U.S." to run parallel to any peace treaty, Bloomberg reported on Dec. 8. 

Ukraine: Zelensky Signals Deadlock on Donbas and Seeks Security Guarantees

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A container ship arrives Oct. 10 at the Port of Oakland, California. In 2026, political calculations among major global players will significantly shape international affairs.

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Israel-Hamas Conflict

In 2026, political calculations among major global players will significantly shape international affairs.

2026 Annual Forecast: A Global Overview

A stock photo shows banknotes of the Russian ruble. 

The European Union using immobilized Russian assets to fund financial support for Ukraine will probably not have major reputational or financial consequences for the eurozone.


Using Frozen Russian Assets To Fund Ukraine Unlikely To Majorly Impact the Euro

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The Ukrainian flag is projected on the facade of Berlaymont, the European Commission headquarters, in Brussels on Nov. 18 to commemorate the Nov. 18, 2024, Russian invasion of Ukraine.

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: A European Council Decision on Ukraine Financing, South Africa Braces for Commission Findings

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Protesters help an injured demonstrator near burning barricades amid clashes in Dar es Salaam, Tanzania, on Oct. 29, 2025. 

The Weekly Rundown: Unrest in Tanzania, an EU Summit in Ukraine

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Russia's President Vladimir Putin, accompanied by Kremlin economic envoy Kirill Dmitriev and Kremlin aide Yuri Ushakov, meets with US special envoy Steve Witkoff and US President Donald Trump's son-in-law Jared Kushner at the Kremlin in Moscow on Dec. 2, 2025.

Fundamental disagreements between Ukraine and Russia over territorial concessions and security guarantees suggest that peace negotiations are unlikely to lead to a comprehensive breakthrough.

Despite U.S. Diplomatic Push, Ukraine Peace Still a Long Way Off

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Russian President Vladimir Putin greets Indian Prime Minister Narendra Modi for their bilateral meeting during the 2025 Shanghai Cooperation Organization Summit.

Global Trade

The Weekly Rundown: Putin-Modi Meeting, Honduras General Election

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A Ukrainian serviceman from the 24th mechanized brigade prepares a Magura night drone to flight toward the front line in the area of Chasiv Yar, Donetsk region late on April 29, 2025.

Ukraine's success in using cheap drones against Russia reveals how smaller states can leverage accessible technologies to impose disproportionate and sustained costs on a materially superior adversary.

Drones Are Redefining Asymmetric Warfare

Smoke rises in the background as a Ukrainian flag flutters in the wind following a mass overnight Russian drone and missile attacks, in the western Ukrainian city of Lviv on Nov. 19, 2025. 

European efforts to adjust core elements of Trump's plan won't shield Ukraine from his latest threat to withdraw support, and Europe's limited leverage and internal constraints mean it is unlikely to sustain Kyiv's defense alone if talks with the White House fail.

What To Make of Europe's Counterproposal to the U.S. Ukraine Peace Plan

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United Kingdom

Banners bearing portraits of leaders of the G20 on Nov. 20 in Johannesburg. The South African government has focused the G20 summit's agenda on issues key to African countries.

The Weekly Rundown: A High-Stakes British Budget, South Africa Hosts the G20

Snapshots

Ukrainian artillerymen operate a U.S.-made M-114 howitzer near Pokrovsk, Ukraine, on Oct. 16, 2025.

Trump has given Ukraine until Nov. 27 to accept a plan that would freeze the war on terms favorable to Moscow, or face U.S. aid cuts. But Kyiv is unlikely to accede, instead relying on European support to continue fighting.

Ukraine Likely To Reject Trump's Peace Plan Ultimatum, Prolonging the War

A screen is seen during the International military anti drone exercise Baltic Trust 25 (BATT25) at the Selonia (Selija) military training ground near Viesite on Aug. 27, 2025.

The European Union is pushing to develop continent-wide anti-drone capabilities, but financial, political and legal fragmentation will significantly slow progress and leave the bloc's defense vulnerable.

Despite Political Enthusiasm, EU Drone Defenses Face Obstacles to Implementation

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Tanks on Sept. 23 in Caracas, Venezuela. The Trump administration has reportedly decided to attack military sites in Venezuela in strikes that could occur at any moment.

The Weekly Rundown: Potential U.S. Strikes in Venezuela, U.S. Outreach in Central Asia

Russia-Ukraine Conflict

SITUATION REPORTS

Ukraine, U.S.: Zelensky Signals Stalemate Ahead of Miami Talks

Russia, U.S.: Washington Reportedly Preparing New Sanctions on Russian Energy

Ukraine, Russia: Zelensky Rules Out Territorial Concessions in Donbas

Ukraine, U.S.: Berlin Talks Advance Security Framework But Leave Territory Unresolved

Russia, Ukraine: Moscow Signals Rigid Donbas Preconditions as Allies Revise Peace Plan

Europe, Russia, Ukraine: EU Moves To Freeze Russian Central Bank Assets Indefinitely

Ukraine, Europe: Zelensky's Diplomatic Marathon Tests Western Unity Against Trump's Christmas Deadline

Ukraine: Zelensky Signals Deadlock on Donbas and Seeks Security Guarantees

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