The European Bank for Reconstruction and Development (EBRD) and Aon, a global insurance and reinsurance broker, announced the launch of a €110 million Ukraine Recovery Guarantee Facility (URGF). This initiative aims to provide reinsurance support to international reinsurers and Ukrainian insurance companies, covering war-related risks in Ukraine.
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French President Macron will visit Warsaw on Thursday to discuss the outcomes of his recent talks with U.S. President-elect Trump and Ukrainian President Zelenskiy. Polish Prime Minister Tusk highlighted that the discussions will center on European support for Ukraine.
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The rapid collapse of the Assad regime in Syria – a regime that the Kremlin helped prop up since 2015 – is a strategic political defeat for Moscow and has thrown the Kremlin into a crisis as it seeks to retain its strategic military bases in Syria. The Kremlin reportedly secured an agreement on December 8 with unspecified Syrian opposition leaders to ensure the security of Russian military bases in Syria, but the contours of this arrangement and its longevity remain unclear given the volatile and rapidly evolving political situation on the ground in Syria. The loss of Russian bases in Syria will have major implications for Russia’s global military footprint and ability to operate in Africa – ISW.
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The White House has gamed out a last-minute strategy to bolster Ukraine’s war position, which includes $20 billion in loans and sweeping sanctions on Russia, according to a background briefing from a National Security Council spokesperson in Washington, DC.
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Estonian defense industry company Frankenburg Technologies will begin testing its anti-aircraft missiles in Ukraine in the new year.
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Ukraine signed an Agreement on the establishment of the Ukraine Loan Cooperation Mechanism (ULCM), which will create a legal framework for servicing and repayment of funds received by Ukraine, up to €45 billion. The mechanism will allow the use of proceeds from frozen Russian assets to cover the principal amount of the loan raised from partners under the G7 ERA initiative, as well as interest and any other costs associated with the loan.
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Chancellor Olaf Scholz’s visit to Ukraine comes at a critical time as military pressure from Russian forces continues to mount. His commitment to providing further military support, including arms deliveries, underscores Germany’s role as a key ally for Ukraine.
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