Welcome back to World Brief, where we’re looking at the European Union‘s financial support for Ukraine, Australia proposing a gun buyback programme, and violent protests across Bangladesh.
‘We will Not collapse’
European Union leaders agreed on Friday to provide a $105 billion, interest-free loan to ukraine over the next two years to support its war effort against Russia. Though, the landmark pledge stopped short of allocating billions of dollars’ worth of frozen Russian assets to Kyiv, concluding (at least, for now) a major flash point that has divided the 27-nation bloc.
EU Approves $54 Billion Aid Package for Ukraine, despite Internal Divisions and Russian opposition
The European Union has finalized a $54 billion aid package for Ukraine, a move hailed by Kyiv as crucial for maintaining its defense against Russia and preventing further aggression across the continent. Ukrainian President Volodymyr Zelensky stated the financial support signals to Russia that continuing the war is futile, as Ukraine will not face collapse on the front lines. EU leaders echoed this sentiment, arguing that supporting Ukraine is vital to deter future Russian aggression, with Polish Prime Minister Donald Tusk stating the choice is “money today, or blood tomorrow.”
The agreement utilizes the EU’s own budget as collateral for the loan, rather than directly leveraging the roughly $247 billion in frozen Russian assets held within Europe. While many advocated for utilizing these immobilized funds,Belgium resisted due to potential legal and financial risks,particularly concerning the $226 billion held by Euroclear,which is currently facing a lawsuit from Russia’s central bank. These frozen assets will remain blocked until Russia provides reparations for the damage caused by the war in Ukraine, which the World Bank estimates will cost at least $524 billion to reconstruct over the next decade.
german Chancellor Friedrich merz affirmed that if Russia fails to pay reparations, “russian immobilized assets will be used for paying back the loan,” in accordance with international law. This proposal was instantly condemned by Russian President Vladimir Putin as “daylight robbery,” with a warning of “grave” consequences for countries authorizing it.
the agreement wasn’t without internal opposition. The Czech Republic, Hungary, and Slovakia initially opposed the loan, with Hungarian Prime Minister Viktor Orban, a known Putin ally, expressing concern that providing funds equates to supporting war. however,Orban ultimately relented on Friday,alongside Czech and Slovak leaders,paving the way for the package’s approval.
Bangladesh Faces Election concerns Amidst Instability, TikTok secures U.S. Future
Bangladesh’s interim government warned on Friday that recent instability-including arson attacks on journalists-could undermine February’s parliamentary elections.
“This is a critical moment in our nation’s history when we are making a historic democratic transition,” the interim government saeid in a statement. “we cannot and must not allow it to be derailed by those few who thrive on chaos and reject peace.”
TikTok’s new owners.TikTok’s Chinese owner, ByteDance, signed binding agreements with three major investors to form a new U.S. joint venture to own the app, according to an internal memo by TikTok CEO Shou Chew that Bloomberg reviewed on Thursday. The deal-expected to close on Jan. 22, 2026-will allow the popular U.S. social media app to continue operating in the united States, a future once considered uncertain due to its ties to Beijing.
Last year, the U.S. Congress passed a law requiring ByteDance’s divestiture from TikTok over fears that the app’s user data could be accessed by the Chinese government and therefore posed a national security threat. At the time, ByteDance owned 100 percent of TikTok’s shares. Trump signed an executive order during his first term effectively banning TikTok and vowed to further regulate the app.