Volodymyr Zelenskyy is urging EU leaders gathered at a crunch summit in Brussels to loan billions of euros in frozen Russian funds to meet Ukraine’s military and economic needs.

Most of Russia’s €210bn (£185bn; $245bn) assets in the EU are held by the Belgium-based organisation Euroclear, and so far, Belgium and some other members of the bloc have said they oppose using the cash as a “compensation loan.”

Russia has warned the EU not to use its money, but Ukraine’s finances will collapse within months without a funding increase.

“I hope we will be able to take a positive decision,” Zelenskyy told reporters. “Without it, there’d be a big problem for Ukraine.”

The Brussels summit comes at a critical moment in the war and Russia has filed a lawsuit against Euroclear in a Moscow court to get its money back.

An official from the European government expressed a cautious optimism, not an overly optimistic view, regarding the likelihood of a deal.

On Thursday, Belgian Prime Minister Bart de Wever told the Belgian parliament, “I have not yet seen any text that could persuade me to change Belgium’s position.”

US President Donald Trump has said a deal is closer than ever to ending the war – which began with Russia’s full-scale invasion of Ukraine in February 2022.

US and Russian officials are to meet in Miami later this week for further talks on the peace plan, a White House official told news agency AFP. It is believed that Kremlin envoy Kirill Dmitriev will speak to Trump’s envoys Steve Witkoff and Jared Kushner.

Ukrainian officials are also visiting the US, and President Volodymyr Zelenskyy, who is in Brussels, told reporters that Kiev needs the money, either to support its military as the war continues or to direct funds towards recovery altogether.

Russia has not yet reacted to the latest peace proposals, but the Kremlin has stressed that plans for a US-backed, European-led multinational force for Ukraine would not be acceptable.

President Vladimir Putin made his feelings toward Europe clear on Wednesday when he said the continent was in a state of “complete collapse” and that “European piglets”—a derogatory description of Ukraine’s European allies—were hoping to profit from Russia’s collapse.

The European Commission – the EU’s executive arm – has proposed lending Kyiv about €90bn (£79bn) over the next two years – out of the €210bn of Russian assets held in Europe.

This is almost two-thirds of the €137bn that Kyiv needs to receive by 2026 and 2027.

So far the EU has paid Ukraine interest generated from cash, but not in cash.

“It is a difficult time for Ukraine to continue fighting into the next year,” a Finnish government official told the BBC. “Of course there are peace talks going on but this gives Ukraine an opportunity to say, ‘We are not desperate and we have the funds to continue the fight.'”

Commission head Ursula von der Leyen says this will also increase the cost of war for Russia.

Freezing Russian assets is not the only option for EU leaders. Another idea supported by Belgium is based on the EU borrowing money from international markets using the EU budget as a guarantee.

EU money to help Ukraine.

However, this would require a unanimous vote and Hungary’s Viktor Orban has made clear that he will not allow any more EU money to help Ukraine.

For Ukraine, the coming hours are crucial and EU leaders are keen to emphasise the critical nature of the debt decision.

“We know the urgency of this. It is intense. We all feel it. We all see it,” von der Leyen told the European Parliament.

German Chancellor Friedrich Merz has taken a leading role in pushing for the use of Russian assets, telling the Bundestag on the eve of the summit that it was about sending a “clear signal” to Moscow that continuing the war was futile.

EU officials are confident they have a solid legal basis for using frozen Russian assets, but so far the Belgian prime minister remains unconvinced. His Defence Minister Theo Franken warned ahead of the talks that lending Euroclear cash would be a big mistake.

Hungary is seen as the biggest opponent of the move and ahead of the summit, Prime Minister Orbán and his entourage even suggested that the frozen assets scheme be removed from the summit agenda. A European Commission official insisted this was not the case and that it would be a matter for the 27 member states to decide at the summit.

Slovakia’s Robert Fico has also opposed using Russian assets if it means the money is being used to buy weapons rather than for reconstruction needs.

When the deciding vote finally takes place, it will need a majority vote from at least the 15 member states that make up 65% of Europe’s population to pass. Whatever happens, European Council President António Costa has promised not to attack the Belgian people over their heads.

“We are not going to vote against Belgium,” he told Belgian public broadcaster RTBF. “We will continue to work very intensively with the Belgian government because we do not want to approve anything that is not acceptable to Belgium.”

Belgium may also be aware that ratings agency Fitch has placed Euroclear on negative watch, partly due to “low” legal risks to its balance sheet from the European Commission’s plans to use Russian assets. The chief executive of Euroclear has also warned against the scheme.

“There are still many hurdles and obstacles in the way. We have to find a way to respond to Belgium’s concerns,” the Finnish official said. “We are on the same side as Belgium. We will devise a solution to mitigate all risks to the greatest extent possible.

However, Belgium isn’t alone in its doubts, and a majority is not guaranteed.

Italian Prime Minister Giorgia Meloni told Italian lawmakers she would support the deal “if the legal basis is solid.”

“If this initiative did not have a solid legal basis, we would be handing Russia its first real victory since the beginning of this conflict.”

Reports also indicate that Malta, Bulgaria, and the Czech Republic oppose the controversial proposals.

If the deal goes through and Russian assets are turned over to Ukraine, the worst-case scenario for Belgium would be one in which the court would order it to hand the money back to Russia.

Some countries have said they are prepared to provide billions of euros of financial guarantees, but Belgium would like to see that number increased.

At any rate, Commission officials are confident that the only way for Russia to get it back would be to pay reparations to Ukraine – at which point Ukraine would hand its “compensation debt” back to the EU.

Pulitzer Prize-winning journalist and war correspondent Peter Arnett has died at the age of 91, US media has reported.

Arnett won the international reporting prize in 1996 for his Vietnam War coverage at the Associated Press (AP). But he was also well known for his work at CNN, having become a household name while reporting on the first Gulf War.

His career spanned decades and covered several conflicts in countries, including Iraq, Vietnam, and El Salvador.

The New Zealand-born journalist died on Wednesday surrounded by family and friends in California, his son told reporters. He was receiving hospice care for prostate cancer.

Arnett first worked for AP as a wire-service correspondent in Vietnam, from 1962 until the war’s end in 1975, often accompanying troops on missions.

Arnett recounted the moment he saw a soldier in Vietnam.

During a 2013 talk, Arnett recounted the moment he saw a soldier in Vietnam take a bullet while pausing to study a map.

“As the colonel peered at it, I heard four loud shots as bullets tore through the map and into his chest, a few inches from my face,” Arnett told the American Library Association.

“He sank to the ground at my feet.”

The journalist left AP in 1981 to join US outlet CNN, where he later became known for his work on the first Gulf War.

He was one of the few Western reporters to stay in Baghdad, where his first broadcast was interrupted by missiles and air-raid sirens, AP said.

“There was an explosion right near me; you may have heard,” he once exclaimed live on-air.

While in Iraq, he interviewed then-president Saddam Hussein. Writing about the experience in the Roanoke Times, Arnett said he had decided to be “as tough in my questioning as the situation would allow”.

He continued: “I was not intimidated by the prospect of encountering the man many had called ‘The Butcher of Baghdad’. “I believed that his actions could not be more harmful to me than the constant bombing of Baghdad was threatening to be.”

In 1997, Arnett became the first Western journalist to interview Osama Bin Laden at a secret hideout in Afghanistan, a few years before the 11 September 2001 attacks on the US.

According to several US media reports, when asked about his plans, Bin Laden told Arnett, “You’ll see them and hear about them in the media, God willing.”

Arnett later worked for NBC and was famously sacked by the broadcaster after giving an interview on Iraqi state television, in which he was considered critical of US military strategy.

Hours later, the Daily Mirror hired him, expressing shock at his dismissal.

“I report the truth of what is happening here in Baghdad and will not apologise for it,” he wrote in the UK paper.

Born in 1934 in Riverton, New Zealand, Arnett later naturalised as an American citizen and had lived in Southern California since 2014.

Edith Lederer, a former colleague who still works at AP, told the agency, “Peter Arnett was one of the greatest war correspondents of his generation – intrepid, fearless, and a beautiful writer and storyteller.

“His reporting in print and on camera will remain a legacy for aspiring journalists and historians for generations to come.”

Meanwhile, Nick Ut, a retired photographer who worked with Arnett in Vietnam, said he was “like a brother.”.

“His death will leave a big hole in my life,” he told AP.

Arnett is survived by his wife, Nina Nguyen, and their children, Andrew and Elsa.

Prices in the UK rose by 3.2% in the year to November, down from 3.6% recorded in October.

However, inflation remains well above the Bank of England’s 2% target.

The Bank moves interest rates up and down to try to keep inflation at that level. Six cuts since August 2024 have brought rates down to 3.75%.

Inflation is the increase in the price of something over time.

For example, if a bottle of milk costs £1 but is £1.05 a year later, then annual milk inflation is 5%.

The Office for National Statistics (ONS) tracks the prices of hundreds of everyday items, including food and fuel.

This virtual “basket of goods” is regularly updated to reflect shopping trends, with virtual reality headsets and yoga mats added in 2025, and local newspaper adverts removed.

The ONS monitors price changes over the previous 12 months to calculate inflation.

The main inflation measure is called the Consumer Prices Index (CPI), and the latest figure is published every month.

The Bank also considers other measures such as “core inflation” when deciding whether and how to change rates.

This figure doesn’t include food or energy prices because they tend to be very volatile, so they can be a better indication of longer-term trends.

Core CPI was 3.2% in the 12 months to November, down slightly from 3.4% in the 12 months to October.

Although inflation has fallen significantly since the October 2022 high, that doesn’t mean prices are falling – just that they are rising less quickly.

Inflation soared in 2022 because oil and gas were in greater demand after the Covid pandemic, and energy prices surged again when Russia invaded Ukraine.

It then remained well above the 2% target partly because of higher food prices.

Food price inflation has continued to be an issue.

It rose to 4.9% in the year to October 2025, and the ONS said this was the biggest factor in the inflation rise recorded in the period.

However, the figure dipped to 4.2% in the year to November, which the ONS again said was the most significant contributor to the overall inflation rate.

In November, lower hotel costs and restaurant trips also helped bring the rate down.

When inflation was well above its 2% target, the Bank of England increased interest rates to 5.25%, a 16-year high.

The idea is that if you make borrowing pricier, people and businesses have less money to spend. People may also be encouraged to save more.

In turn, this reduces demand for goods and slows price rises.

However, maintaining a balance is crucial, as an increase in borrowing costs could potentially damage the economy.

For example, homeowners face higher mortgage repayments, which can outweigh better savings deals.

Businesses also borrow less, making them less likely to create jobs. Some may cut staff and reduce investment.

Recently, inflation has remained above the bank’s target at the same time as the economy has remained relatively flat and the jobs market has softened.

Therefore, the Bank has chosen to cut rates, despite high inflation, in an attempt to encourage people to spend more and get businesses to invest and create jobs to boost the economy.

The Bank of England began cutting rates in August 2024.

Six cuts since then have brought rates down to 3.75%, the lowest level since early 2023.

The most recent cut in December 2025 reflected concerns over rising unemployment and weak economic growth.

However, it was a tight vote, with policymakers voting 5–4 in favour of a cut.

The Bank said rates were “likely to continue on a gradual downward path” in 2026 but warned decisions on future cuts were likely to be even closer.

The latest official figures show that regular pay in Great Britain grew by more than inflation between August and October.

Average annual growth in pay (excluding bonuses) during the three-month period remained at 4.6%.

After taking inflation into account, wages grew by 0.9% between August and October.

Annual average regular earnings growth for the period was 7.6% for the public sector and 3.9% for the private sector.

The US and EU countries have also been trying to limit price increases, but both have lower central bank interest rates than the UK.

The inflation rate for countries using the euro was 2.1% in November, according to EU data.

Between June 2024 and June 2025, the European Central Bank (ECB) cut its main interest rate from an all-time high of 4% to 2%, where it has remained.

In the US, price increases have eased in recent months. The latest figures show prices rose 2.7% over the 12 months to November, down from 3% in September.

In December, the US Federal Reserve cut its target interest rate for the third time in 2025, putting it in the range of 3.50% to 3.75%—its lowest level in three years.

US President Donald Trump had attacked the Fed earlier in the year for not cutting rates.

Antony Price, the British fashion designer responsible for some of the looks favoured by David Bowie, Roxy Music and Queen Camilla, among others, has died at the age of 80.

Price was known for her sculptural silhouettes and dramatic styles, including the pastel suits featured in the rock band Duran Duran’s music video Rio.

The band released a Statement on social media He is remembered as “visionary” and a “kind, intelligent, and sharp-witted friend.”

Price’s death came less than a month after unveiling her latest collection in more than 30 years in London, where singer Lily Allen designed a dress inspired by the black velvet “Avenger Dress” worn by Diana, Princess of Wales.

[Born in Yorkshire in 1945, Price moved to London in the early 1960s to study at the Royal College of Art.] [1945 मेंयॉर्कशायरमेंजन्मेप्राइस1960केदशककीशुरुआतमेंरॉयलकॉलेजऑफआर्टमेंअध्ययनकरनेकेलिएलंदनचलेगए।]

A year after graduating, he began designing menswear at Sterling Copper and was responsible for the buttoned trousers worn by Sir Mick Jagger during The Rolling Stones’ Gimme Shelter Tour in 1969.

She founded her label in 1979 and held her first fashion show a year later, debuting the collection with a look for model Jerry Hall, who also wore a dress Price designed for her wedding to Sir Mick.

A long-time collaborator of David Bowie, Price designed the jacket the singer wore for his As the World Falls Down music video in 1986.

His distinctive ability to mix men’s and women’s clothes, as well as his technical proficiency in shaping body-hugging looks, made him a “true original,” the British Fashion Council said.

In the 1990s, he began working for Camilla, Duchess of Cornwall, after she assumed the title, including several ensemble pieces for her US tour.

After a career spanning more than five decades, Price held her last show in London last month in collaboration with fashion brand 16Arlington.

The Daily Telegraph says Britain may face bill of almost £9 billion The Daily Telegraph reports that Britain may have to pay almost £9 billion to rejoin the European Union’s student exchange program, Erasmus.

The government has agreed to a one-year deal, but the newspaper says existing subscriptions will be far pricier, as the EU plans to increase the cost significantly. A government spokesman says the £570m agreement for 2027 is a “good deal” for taxpayers.

Daily Mail has A different figure of £6bn Its front-page headline stressed that this had come at a cost to Sir Keir Starmer’s “new bid to reach Brussels”.

It quotes Dame Priti Patel, the shadow foreign secretary, accusing Labour of “ruining millions of lives”. In response, Nick Thomas-Symonds, the minister for EU relations, says that rejoining the Erasmus scheme is “a huge win for young people”.

The Guardian says it has been told by European intelligence agencies that the Kremlin is waging a campaign of intimidation against Belgian politicians and finance officials.

It said the operation aimed to freeze billions of pounds of Russian assets in the country and use them to help Ukraine.

According to the paper, the British Army has been Preparation to send peacekeeping force to Ukraine Hopes are rising that an agreement to end the war with Russia will be reached in the near future.

The newspaper says that kits are being purchased and plans for the army’s movement are being finalised.

A call from Kemi Badenoch for Sir Keir “Show some spine” The Daily Express has highlighted the ban on doctors striking. In the paper,

Badenoch asserts that his party will introduce legislation to stop doctors from going on strike. Wes Streeting, the Health Secretary, has stated that he made every effort to prevent industrial action.

And the Times reports that the government has put an export ban on the 220-year-old Union Flag. To prevent it from being purchased by a foreign buyer,

It was flown at the Battle of Trafalgar. The newspaper says it is hoped the three-month ban will give the gallery or museum time to raise the required £450,000 so it can be kept for the country.