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The European Commission proposed Wednesday an unprecedented use of frozen Russian assets or international borrowing to raise €90bn ($105bn) for Ukraine to cover its struggling military and basic services against Russia's war.The European Union's executive body has declared it favours a "reparations loan" using Russian state assets immobilised in the EU due to Russia's invasion of Ukraine. But Belgium, which holds most of the assets, has voiced a range of concerns that it said had not been satisfactorily addressed by the proposals."We are proposing to cover two-thirds of Ukraine’s financing needs for the next two years. That’s €90bn euros. The remainder would be for international partners to cover," Commission President Ursula von der Leyen told reporters."Since pressure is the only language the Kremlin responds to, we can also dial it up," she said. "We have to increase the costs of war for (Russian President Vladimir) Putin's aggression and today's proposal gives us the means to do this."She said the proposal to EU member states had taken into account almost all the concerns raised by Belgium, whose Brussels-based financial institution Euroclear is the main holder of the assets.The proposal would now also cover other financial institutions in the EU that hold Russian assets, von der Leyen said. EU officials said France, Germany, Sweden and Cyprus also held such assets.Russia has warned the EU and Belgium against using its assets, which it says would be an act of theft. The Commission says the scheme does not amount to confiscation as the money would be in the form of a loan — although Ukraine would only have to redeem it if Russia pays reparations.The complexities around the scheme increased after a US-backed 28-point plan to end the war in Ukraine proposed that some of the assets be used in a joint American-Russian investment vehicle.But von der Leyen said she had informed US Treasury Secretary Scott Bessent of her plan to move forward with the reparations loan and it had been "positively received".Economy Commissioner Valdis Dombrovskis said the EU was also seeking to persuade other international partners to provide support in the first quarter of next year as the EU money would probably not be available until the second quarter.The Commission said the EU could proceed with the scheme if 15 out of 27 member countries, representing at least 65% of the bloc's population, voted in favour.EU officials said this would also apply to ensure Russia's sanctioned assets remain immobilised, an essential part of the reparations loans, under EU law allowing financial assistance in instances of "severe difficulties". Sanctions roll-overs normally require unanimity.The other option — borrowing on international markets using the EU budget — would also normally require unanimity among EU countries — a potentially difficult hurdle as Hungary's Russia-friendly government has opposed previous funding for Ukraine.European Central Bank President Christine Lagarde told a European Parliament hearing that using a reparations loan would be a stretch from a legal and financial standpoint though it would "hopefully" respect international law and financial stability.Hours earlier, before the Commission's legal proposals were presented, Belgian Foreign Minister Maxime Prevot declared that they fell short of Belgium's requirements."We have the frustrating feeling of not having been heard. Our concerns are being downplayed," Prevot told reporters at a meeting of Nato foreign ministers in Brussels."The texts the Commission will table today do not address our concerns in a satisfactory manner."The issue is likely to come to a head at an EU leaders summit on December 18, when the Commission said it hoped to clinch a firm commitment by member states.Belgium has demanded that other EU countries guarantee they will cover all legal costs arising from any Russian lawsuits against the scheme. It also wants them to guarantee they would help provide money quickly to pay Russia back if a court ever ruled Moscow must be refunded.Thirdly, it has demanded that other countries holding Russian frozen assets also make those funds available to Ukraine. 

President Volodymyr Zelensky Monday sought to reinforce European support for Ukraine at a potentially pivotal moment in Kyiv’s battle against the Russian invasion, meeting President Emmanuel Macron in Paris as Washington pushed a plan to end the war. Zelensky held talks with Macron at the Elysee, with Ukraine weighing its options over the plan championed by US President Donald Trump but which European countries fear risks caving in to Russian demands. The situation has been further complicated by a corruption scandal that has rocked Zelensky’s inner circle and forced the removal last week of his top negotiator and chief of staff Andriy Yermak. Over three-and-a-half years into Russia’s full-scale invasion of its neighbour, Kyiv is also under pressure on the battlefield as Russia’s offensive grinds forward.US and Ukrainian negotiators held hours of what both sides called “productive” talks in Florida on Sunday, with Trump declaring on Air Force One “there’s a good chance we can make a deal”. “The work for peace continues,” Macron wrote in a brief post on X after welcoming Zelensky for talks “There are some tough issues that still have to be worked through,” Zelensky wrote on social media earlier Monday, following new telephone talks with Finland President Alexander Stubb, who has warm relations with both the American and Ukrainian leaders. Zelensky described the talks in the United States as “very constructive”, adding that decisions would be taken on Ukraine’s “further activities” once the delegation returning from there had been debriefed. “It could be a pivotal week for diplomacy. We heard Monday that the talks in America were difficult but productive,” EU foreign policy chief Kaja Kallas added at a meeting of EU defence ministers. Washington put forward an initial 28-point proposal to halt the war, drafted without input from Ukraine’s European allies and regarded as too close a reflection of Moscow’s maximalist demands on Ukrainian territory. It would have seen Kyiv withdraw from its eastern Donetsk region and the United States de facto recognise the Donetsk, Crimea and Lugansk regions as Russian. After talks in Geneva just over a week ago, the United States updated the original blueprint following criticism from Kyiv and Europe, but the current contents remain unclear. In an article for Britain’s Telegraph newspaper published at the weekend, Ukraine’s former armed forces chief Valery Zaluzhny offered a downbeat assessment of Ukraine’s predicament, saying that “we are in an extremely difficult situation, where a rushed peace will only lead to a devastating defeat and loss of independence”. Zaluzhny, now ambassador to London and seen by some as a domestic rival of Zelensky, said that without security guarantees including Ukrainian membership of Nato, the “war will probably continue” with Russia’s goal “the abolition of Ukraine as an independent state.” Trump’s envoy Steve Witkoff is due in Moscow for follow-up talks and is expected to discuss Ukraine with Putin today. US Secretary of State Marco Rubio told reporters the Florida talks were “very productive” but there was “more work to be done”. “There are a lot of moving parts, and obviously there’s another party involved here that will have to be a part of the equation, and that will continue later this week when Mr Witkoff travels to Moscow,” he said. The diplomatic push comes as the war — which has killed tens of thousands of civilians and military personnel and displaced millions of Ukrainians — shows no sign of easing. A Russian missile attack killed four people and wounded nearly two dozen others Monday in the central Ukrainian city of Dnipro, the governor of the region said. Local officials released images of the aftermath showing emergency services responding at the scene, cars destroyed and buildings with their windows blown out. Zelensky is due today to make his first official trip to Ireland, which is not a Nato member but takes over the rotating EU presidency in the second half of 2026. 

The State of Qatar participated in a high-level economic meeting organised by the Ghorfa Arab-German Chamber of Commerce and Industry in Frankfurt. The meeting aimed to explore avenues of co-operation between the two sides, with a focus on highlighting German and European investment opportunities in the Gulf Co-operation Council (GCC) countries. Qatar was represented at the meeting by ambassador of the State of Qatar to Germany Abdullah Ibrahim al-Hamar. The meeting was also attended by former British prime minister David Cameron and Honorary President of the Arab-German Chamber of Commerce and Industry Thomas Bach, along with more than 80 senior political, business and economic leaders and decision-makers from the Gulf and Europe. Participants outlined their visions for enhancing co-operation between the GCC countries and Europe in light of current global geopolitical and economic developments. The meeting also reviewed Gulf investment experiences in Germany and explored future co-operation opportunities in the fields of energy, infrastructure and advanced technologies. The high-level meeting reflects the growing momentum in relations between the GCC countries and the European Union, particularly following the adoption of the Strategic Partnership Agreement between the two sides in 2022. The agreement established a new framework for co-operation in the areas of economy, energy, environmental transition and regional stability. The first joint summit between the leaders of the European Union and the GCC countries was held in Brussels in 2024, during which it was agreed to convene a summit every two years. 

Assistant Undersecretary for Security Affairs at the Ministry of Interior (MoI) Sheikh Nayef bin Faleh bin Saud al-Thani met Monday with Commissioner for European Affairs, Export Control, Security and Defence Industry at the Ministry of Foreign Affairs of Germany, Dr Robert Dieter. During the meeting, the two sides discussed areas of security co-operation between the two friendly countries.They further discussed ways to enhance the exchange of expertise to contribute to developing the security work system and supporting joint efforts. 

Four-time World Cup winners Italy will face Northern Ireland in the semi-finals of the European playoffs for the 2026 tournament while Ukraine face star-studded Sweden.Italy will take on Northern Ireland on March 26 next year at an Italian venue that is yet to be confirmed, after the draw made in Zurich Thursday.Five days later the winner will travel to face the winner of Wales’s semi-final against Bosnia-Herzegovina.Despite another error-strewn qualification campaign, Italy still have a chance of reaching the World Cup finals for the first time since the 2014 tournament in Brazil, having failed to qualify in 2018 and 2022.Facing the Azzurri will be a daunting challenge for Northern Ireland, who have only beaten the Italians once in 11 meetings, and that was in 1958. Italy coach Gennaro Gattuso said: “Let’s concentrate on the first match. Northern Ireland are a team that we can beat. They’re a team that have their own style, they’re very physical... they’ll give us a good game but we can do it. We know about Wales and Bosnia, and playing in Cardiff is difficult for anybody, but for now let’s concentrate on the semi-final.”War-torn Ukraine will play a Sweden team that could feature Liverpool’s £125mn ($164mn) forward Alexander Isak and Arsenal striker Viktor Gyokeres.The Swedes, though, were woeful in qualifying, finishing bottom of their group, and only got into the playoffs thanks to their performance in the Nations League. Newly appointed English coach Graham Potter, formerly in charge of Brighton and Chelsea, faces a tough task to steer the Swedes to the finals in the United States, Mexico and Canada. Potter said Sweden had a “fantastic opportunity”.“We need to make sure we’re in a good place in March.We need to use our time until then wisely,” he said.Whoever triumphs in the Ukraine v Sweden match will face the winner of Poland’s meeting with Albania – the Albanians are bidding to reach football’s showpiece for the first time. Meanwhile, the Republic of Ireland, who reached the playoffs after a dramatic late goal from Troy Parrott earned a 3-2 win in Hungary on Sunday, face a tough trip to the Czech Republic.The winner of that match will host the winner of the semi-final between Denmark and North Macedonia.Turkiye will play Romania, who were surprise quarter-finalists the last time the tournament was played in the United States in 1994.The winner will face either Slovakia or Kosovo, who are also trying to reach a World Cup for the first time in their history. All the European semi-finals will take place on March 26, with the finals on March 31.In the inter-continental playoffs, New Caledonia – another nation bidding to make a first appearance at a World Cup finals – will play against Jamaica for the right to face the seeded Democratic Republic of Congo.Bolivia will play Suriname – yet another country seeking a first ever appearance – with the victor going on to a winner-takes-all game against Iraq.Those games will be played in March next year. The expansion of the 2026 World Cup to 48 teams from 32 teams in 2022 has led to a clutch of first-time qualifiers, including Curacao and Uzbekistan.

The biggest oil company in the United Arab Emirates has secured a key European approval that brings it a step closer to completing a €12bn ($14bn) takeover of Covestro AG, part of a global deals push to create a natural gas and chemicals leader.Abu Dhabi National Oil Co won a conditional European Union go-ahead for the proposed buyout after addressing regulators’ concerns around state subsidies. The European Commission said on Friday that an offer from Adnoc to maintain Covestro’s intellectual property in Europe, as well as concessions around state guarantees, had settled earlier concerns, with the commitments valid for 10 years.The deal will be the largest takeover of a European firm by a Middle Eastern company and marks the region’s ambitions in employing its hydrocarbon wealth to build international networks. Adnoc and regional rival Saudi Aramco are snapping up liquefied natural gas supply contracts to feed growing trading arms.The Gulf countries are betting that demand for natural gas and chemicals will continue to grow as inputs for power and building blocks for consumer goods like the plastics, packaging and lightweight materials that go into mobile phones, computers and cars. Adnoc’s offer would be a cash injection into an industry that’s suffering falling prices and slack margins, hurting profit across the chemicals sector in Europe.The planned purchase of Covestro would give Adnoc control over a German company that supplies materials for some of the world’s most prominent phone and carmakers. Adnoc would own Covestro through its investment unit XRG, set up in last year as the company’s international platform for natural gas, chemicals and energy solutions.A year ago, Abu Dhabi launched the high-profile energy investment firm hoping to deploy billions of dollars on deals around the world. The company had early successes with gas deals in the US, Africa and central Asia. XRG’s biggest effort yet fell apart in September when the firm dropped its planned $19bn takeover of Australian natural gas producer Santos Ltd. It bounced back with a deal announced last week to explore buying into an LNG project in Argentina.In July, the commission, the EU’s antitrust arm, opened a full-scale investigation into the Covestro deal under tough new foreign subsidies rules. EU officials warned at the time that Adnoc’s state funding may have given it an unfair advantage over rivals with less-deep pockets, concerns that were allayed during negotiations between the parties.“Commitments offered by Adnoc effectively address the potential negative effects by allowing market participants to access key Covestro patents in the field of sustainability,” EU competition chief Teresa Ribera said in a statement. “Clear, pre-defined access to these patents will enable others to innovate and advance research in an area that is critical for Europe’s future.”Adnoc also transferred to XRG its holdings in four subsidiaries listed on the Abu Dhabi stock exchange in September. The transaction will bolster XRG’s balance sheet by providing it with cash flows from companies with total market capitalisation of nearly $120bn.

The World Bank backs language in a US-drafted United Nations Security Council resolution on Gaza that would authorise a two-year mandate for a transitional governance body.The 15-member UN Security Council began negotiations on Thursday on the text that would mandate a so-called Board of Peace transitional governance administration, giving it the authority to establish operational entities to address issues including the reconstruction of Gaza and of economic recovery programmes.The World Bank, the UN and the European Union had estimated in February it would cost more than $50bn to rebuild Gaza, and are finalising a new interim estimate of $70bn."Our engagement in Gaza will require the ability to work with international partners who enjoy the full support of the international community and full authorisation to undertake their efforts," World Bank President Ajay Banga wrote to US Ambassador to the UN Mike Waltz."The proposal to establish an authority, in the current draft the Board of Peace, by the UN Security Council with the authorisations set out in the resolution would provide the needed framework for engagement by the Bank," he said in the letter Sunday.Banga was responding to correspondence from Waltz, thanking him for sharing the draft UN resolution.The current text also "calls upon the World Bank and other financial institutions to facilitate and provide financial resources to support the reconstruction and development of Gaza as it would provide to its members, including through the establishment of a dedicated trust fund for this purpose and governed by donors."Banga said the bank appreciated this language, adding: "We are moving with all deliberate speed in these efforts so we will be ready on day one when asked to answer this call."Israel and Palestinian group Hamas agreed a month ago to the first phase of US President Donald Trump's 20-point plan for Gaza, a ceasefire in their two-year war and a hostage release deal. The next phase of the plan, which the draft UN resolution would endorse, is to establish the Board of Peace and a temporary International Stabilization Force in Gaza.The US formally circulated the draft resolution to Security Council members late on Wednesday.The draft would authorize a two-year mandate for the ISF that could "use all necessary measures" - language for force - to carry out its mandate.The US asked countries to submit feedback on the text by last Friday, said diplomats. A council resolution needs at least nine votes in favour and no vetoes by Russia, China, France, Britain or the United States to be adopted. Washington has said it aims to put the draft to a vote within "weeks, not months.""Overall, things are looking very positive. We're making changes to respond to concerns that some have raised," a U.S. official, speaking on condition of anonymity, said.

Egyptian Foreign Minister Badr Abdelatty and European Union High Representative for Foreign Affairs and Security Policy Kaja Kallas discussed via phone the latest developments in Gaza and Sudan, efforts to promote peace and sustainable development across Africa, and strengthening the Egypt-EU bilateral relations.In a statement issued Saturday, Egypt's Foreign Ministry said Abdelatty briefed Kallas on Cairo's efforts to uphold the Sharm El-Sheikh cease-fire agreement in Gaza. He also outlined preparations for Egypt's upcoming hosting of the International Conference on Early Recovery and Reconstruction in Gaza, scheduled for later this month, and expressed hope for active participation from EU member states.On Sudan, both sides emphasized the importance of preserving the country's unity, sovereignty, territorial integrity, and national institutions. They also condemned the recent atrocities reported in the city of El Fasher.

Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi met in Kuwait with European Union (EU) Commissioner for Trade and Economic Security Maros Sefcovic.The meeting took place on the sidelines of the 9th GCC-EU Economic Forum. During the meeting, several economic and commercial topics were discussed, along with ways to enhance GCC-European relations in areas and priorities of common interest. Both sides affirmed their aspiration to strengthen relations and build numerous partnerships in various fields between the Cooperation Council and the EU.

The State of Qatar participated in the 10th meeting of Permanent Representatives to the League of Arab States and Ambassadors of the Political and Security Committee of the Council of the European Union (EU), held today in Brussels.The State of Qatar's delegation was headed by Acting Charge d'Affaires at the Embassy of the State of Qatar to the Arab Republic of Egypt and Permanent Representative to the League of Arab States, Maryam Ahmed Al Shaibi.The meeting discussed the course of the Arab-European dialogue and ways to strengthen political and security consultation channels in light of the rapid regional and international developments. They also reviewed the most prominent issues, foremost among them the Palestinian issue, in addition to the latest developments in Syria, Lebanon, Libya, Sudan, Somalia and Yemen and their humanitarian and security implications. The meeting also followed up on issues of security in the Red Sea, water security, migration, refugees and displaced persons, and the Ukrainian crisis and its repercussions on regional and international security.In this context, Al Shaibi affirmed the State of Qatar's firm commitment to continuing its diplomatic and humanitarian efforts to support the Palestinian people, stressing that dialogue and a political solution are the only way to end the conflict and achieve a just and comprehensive peace.She also reviewed Qatar's ongoing mediation efforts in coordination with both the Arab Republic of Egypt and the United States of America, which resulted in previous understandings and truces, prisoner and hostage exchanges, and the entry of humanitarian aid into the Gaza Strip, noting that the Sharm El Sheikh Peace Summit represented a turning point that resulted in a ceasefire agreement in the Gaza Strip.Al Shaibi expressed Qatar's appreciation to regional and international partners for their cooperation, stressing Doha's commitment to continuing to work towards achieving a just and sustainable peace that preserves the legitimate rights of the Palestinian people. She also emphasized that humanitarian efforts are inseparable from political solutions, and that ending the suffering of the Palestinians requires a cessation of aggression and urgent international action to address the humanitarian crisis in Gaza.The State of Qatar will remain committed to its approach as a mediating and peace-making state, whose wise leadership dedicates its efforts to resolving conflicts through diplomatic means, alleviating the suffering in the Gaza Strip, and creating the appropriate conditions for the return of displaced persons to their lands, Al Shaibi added.Regarding developments in the Russian-Ukrainian crisis, Al Shaibi affirmed that the State of Qatar has adopted a firm stance since the outbreak of the crisis based on prioritizing peaceful and diplomatic solutions. She stated that the State of Qatar has believed since the start that ending the conflict cannot be achieved through military force, but rather through dialogue, respect for international law, and the sovereignty of states.She emphasized that the humanitarian dimension was a key focus of Doha's actions, as the State of Qatar provided USD 100 million in aid to support the Ukrainian people, including the rehabilitation of health and educational infrastructure, the provision of drinking water, mine clearance, and the rehabilitation of agricultural lands.Al Shaibi added that Qatar also provided 50 scholarships to Ukrainian students, believing that education is the cornerstone for building the future, and contributed to reuniting hundreds of children with their families. In April 2024, Qatar received a number of Ukrainian families as part of an integrated care and support program, in addition to supporting efforts to document and exchange prisoners' letters.Al Shaibi concluded her remarks by emphasizing Qatar's readiness to participate in any regional or international efforts aimed at achieving an urgent and peaceful solution to the crisis, stating that Qatar will continue to call for dialogue and restraint, and to keep communication channels open in order to achieve security and stability.

HE the Special Envoy of the Minister of Foreign Affairs ambassador Faisal bin Abdullah al-Hanzab met Monday with the visiting Special Envoy of the European Union for Afghanistan, Gilles Bertrand. The meeting discussed co-operation between Qatar and the European Union, particularly joint efforts in Afghanistan.

European stocks declined on Tuesday, as trade fears between the US and China resurfaced, and Michelin's shares fell to its lowest level in more than two years after the French tire company cut its annual outlook. The European Stoxx 600 index dropped 0.6 percent, marking its lowest level in about two weeks after a short-lived rally on Monday. The mining sector posted the largest drop among European sectors, down 2 percent. Automakers' shares fell 1.5 percent, and Michelin plunged 9.3 percent. The shares of Germany's automotive parts maker Continental fell 3.7 percent, while Italy's tire maker Pirelli declined 2.1 percent. Meanwhile, Ericsson of Sweden (a telecommunications equipment maker) jumped 12.4 percent.