Ukraine peace plan divides EU, anti-corruption raids in Kyiv, Belgium blocks Russian assets...

Politico Europe reports that Ukraine faces a perilous winter, with its military under pressure, energy infrastructure degraded by Russian attacks, and a deepening financial crisis. The latest US-driven “peace plan” for Ukraine, which has seen chaotic diplomacy and confusion—including US Secretary of State Marco Rubio’s contradictory statements—has left Kyiv with few options. The 19-point proposal, derived from a Russian draft, would deny Ukraine NATO membership, leave it without 20% of its territory, and provide weak security guarantees, raising fears of internal unrest and Western betrayal. The analysis highlights the West’s lack of strategic clarity and unity, casting doubt on the outcome’s sustainability and its broader impact on European security and global democracy. Politico Europe

Ukraine’s anti-corruption agencies raided the premises of Andriy Yermak, President Zelenskyy’s top adviser, in a major escalation of a $100 million graft investigation. Politico Europe details that this probe, which implicates high-level insiders and comes amid Russian attacks and US diplomatic pressure, could be the most damaging scandal of Zelenskyy’s tenure. The government’s previous attempts to curtail the independence of anti-corruption bodies sparked protests, but EU pressure forced a reversal. The Guardian adds that Yermak has publicly stated he is cooperating fully with investigators, as the scandal further complicates Ukraine’s international standing during critical peace talks. Financial Times confirms the search was carried out at Yermak’s home. Politico Europe The Guardian Financial Times

Efforts to use €140 billion of frozen Russian reserves in Brussels to support Ukraine have run aground due to Belgian Prime Minister Bart De Wever’s opposition, reports Politico Europe. De Wever’s government faces accusations from EU diplomats of insufficient transparency regarding tax revenues from these assets, which are meant to fund Ukraine. Belgium claims all related tax income is “earmarked” for Kyiv but refuses to clarify if the full amount has been transferred. This standoff is now a key obstacle ahead of the December European Council summit, as allies argue Belgium is prioritizing domestic budgetary needs over European security. Politico Europe

In a strongly-worded letter to the European Commission, Politico Europe reveals, Belgian PM De Wever escalated his resistance to the frozen assets plan, warning it could block a future Ukraine peace deal and expose EU taxpayers to significant risk if Russia demands the funds back. He proposes alternative financing through joint EU debt, a move unpopular with most member states. The lack of agreement underscores deep divisions within the bloc over how to support Ukraine financially. Politico Europe

bostonglobe.com and The Guardian report that Hungarian Prime Minister Viktor Orbán traveled to Moscow for talks with Vladimir Putin on securing cheap Russian oil and gas. Orbán’s visit, rare among EU leaders during the Ukraine war, comes after successfully obtaining a US exemption for Hungary on Russian energy sanctions. His defiance highlights continued divisions within the EU on energy policy and relations with Russia, as most member states seek to reduce dependency on Moscow. bostonglobe.com The Guardian

Politico Europe details ongoing negotiations to allow the UK into the EU’s €150 billion Security Action for Europe (SAFE) defense loans program. Talks have stalled over the entry price, with a “pay as you go” model now under consideration to avoid large upfront costs. Both sides face pressure to reach a deal before a critical deadline, as excluding the UK could undermine ambitions for European defense autonomy and industrial cooperation in the face of Russian aggression. Politico Europe

A wave of new legislation is sweeping the EU to restrict bids from “hostile states” like China on strategic infrastructure, according to Politico Europe. Sweden, Poland, and Austria are implementing or debating measures to block Chinese involvement in ports and railways, following a key EU court ruling. The European Parliament and Commission are also moving to update procurement and security rules, reflecting mounting anxiety about foreign influence over critical logistics and technology assets. Politico Europe

The World Street Journal notes that Europe is increasingly anxious about its position in the evolving landscape of great power competition. With underinvestment in defense and political fragmentation, the continent fears it may become the “biggest loser” as transactional geopolitics intensifies. The EU’s slow responses to crises in Ukraine and beyond have fueled concerns about long-term strategic vulnerability. World Street Journal (International)

Hopes for finalizing the EU’s trade agreement with the Mercosur bloc (Argentina, Brazil, Paraguay, Uruguay) are fading, Politico Europe reports. While technical safeguards to protect European farmers have been negotiated, political backlash in the European Parliament and among key member states like France and Poland threatens to derail ratification. A request for a legal review of the deal’s compatibility with EU treaties could further delay or block the agreement, despite its potential to benefit struggling European exporters. Politico Europe

A landmark study covered by The Guardian finds that Africa’s forests, once a vital carbon sink, have become a net source of CO2 since 2010. This means all three major rainforest regions—the Amazon, Southeast Asia, and Africa—now contribute to climate breakdown rather than mitigating it. The change underscores an urgent need for global action to protect remaining forests and address deforestation and degradation trends. The Guardian (Environnment) The Guardian

Despite negative press about the latest UN climate summit (COP30), The Guardian highlights several positive outcomes, including the first direct address of fossil fuels in the summit’s legal text and a commitment to triple adaptation finance for developing nations by 2035. However, activists and some delegates warn that fossil fuel interests still wield outsized influence, and tangible progress will require sustained real-world action beyond diplomatic agreements. The Guardian (Environnment)