The World Watches
Today in The World Watches, we focus on Brussels. Overnight, EU leaders approved a €90 billion, zero‑interest loan to Ukraine over two years — funded by joint EU borrowing, not frozen Russian assets. Why it leads: it signals long-horizon European backing while sidestepping legal risks around asset seizure; markets quietly welcomed the shift. The context: Russia intensifies its winter campaign; President Putin says “no more wars” if the West “respects” Russia, while claiming Ukraine is “on the retreat.” On the ground, Russia has repeatedly hit Ukraine’s gas production since October, knocking out large portions of domestic supply and forcing costly imports — a calculated pressure point as Kyiv faces 12–18 hour blackouts in some regions.
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