Newsflash

North Korean soldiers demining in Russia

North Korea has reportedly deployed thousands of soldiers to support Russia in its ongoing war against Ukraine, according to South Korean intelligence. This move is believed to be part of a broader agreement where North Korea receives financial aid and advanced military technology from Russia in exchange for its military assistance. The deployment marks the first time North Korea has publicly acknowledged sending troops to the front lines, confirming the move in April. This development follows a mutual defense treaty signed last year between Russian President Vladimir Putin and North Korean leader Kim Jong-Un, further solidifying their strategic alliance. 💣💥

'They're no longer hiding': How Russia is shipping liquefied natural gas to China despite sanctions

Russia has resumed shipping liquefied natural gas (LNG) to China despite Western sanctions, signaling deepening energy ties between the two nations. A recent delivery from Russia's Portovaya plant to China's Beihai terminal marks the first such shipment since the facility was sanctioned by the U.S. in January 2025. The LNG carrier, Valera, which is also under sanctions, unloaded nearly 160,000 tonnes of LNG, highlighting Russia's strategic efforts to secure revenue for its war in Ukraine.

Facing sanctions, Russia previously attempted to export LNG using a "dark fleet" tactic, similar to its oil export strategy. However, these efforts were largely unsuccessful until August 2025, when several LNG tankers, previously hiding their locations, began openly delivering cargo to China. Over three months, at least 18 LNG cargos from the sanctioned Arctic LNG 2 plant were shipped to Beihai, totaling over one million tons. This shift in policy is attributed to a more lenient stance from the new U.S. administration under President Donald Trump, which has reduced pressure on Russia.

The transparency of these deliveries suggests a growing confidence among Russia and China in defying Western sanctions. The Valera, for instance, made no effort to conceal its voyage, sending a clear message to the West. For China, the discounted LNG prices and the geopolitical statement of independence from U.S. energy dominance are significant incentives. For Russia, the shipments are politically symbolic, reinforcing its strategic Arctic projects and preparing for future sanctions, such as the EU's upcoming ban on Russian LNG imports by 2027.

Despite the open deliveries, some shipments remain shrouded in mystery, with evidence of ship-to-ship transfers and potential involvement of a nascent Chinese dark fleet. This fleet may be used to circumvent future sanctions, particularly those targeting the Yamal LNG megaproject. The evolving dynamics underscore the complex interplay of economic, political, and strategic interests driving Russia-China energy collaboration amid global sanctions. 🌍💸

Berlin summons Russian ambassador over increase in hybrid attacks

Berlin has summoned Russia's ambassador to express strong concerns over a recent surge in hybrid attacks attributed to Russian actors. The German government has accused Russia of escalating its use of cyberattacks, disinformation campaigns, and other covert operations targeting critical infrastructure and political stability. This move follows a series of incidents, including cyber intrusions into government networks and attempts to influence public opinion through false narratives. Germany has demanded that Russia cease these activities and take immediate steps to prevent further escalation. The summit underscores growing tensions between the two nations and highlights the increasing threat of hybrid warfare in the digital age. 🇩🇪🇷🇺

US - Europe rift: Further deepening transatlantic divide would only benefit Russia and China'

The escalating tensions between the United States and Europe risk deepening the transatlantic divide, a development that would only benefit adversaries like Russia and China. As the U.S. adopts a more transactional approach to foreign policy, prioritizing commercial interests over shared democratic values, Europe finds itself in a precarious position. The continent faces heightened security threats, particularly from Russia, while grappling with the uncertainty of American support, which may now hinge on economic incentives rather than mutual values.

To safeguard its sovereignty and security, Europe must accelerate its defense capabilities. Current NATO spending targets are insufficient, and discussions are underway to increase them. However, achieving true strategic autonomy requires collective investment in critical assets like satellite systems and intelligence. While Germany may have the fiscal capacity to allocate significant funds for defense, most European countries lack such resources. The EU’s recent financial mechanisms, such as the €150 billion SAFE initiative, offer some support but fall short of the necessary scale.

Two innovative proposals aim to address these challenges: a European Rearmament Bank, modeled after the EBRD, to provide low-cost loans for defense projects, and a European Defense Mechanism, inspired by the ESM, to directly purchase equipment on behalf of governments. Both proposals could be swiftly implemented, as past financial institutions were established in record time. While resistance may arise from nations protective of their defense industries or wary of shared debt, the benefits—a stronger, more unified European defense market and greater continental security—are undeniable. The time for decisive action is now. 🌍💥

Russia files lawsuit against Euroclear as Europe bickers over frozen assets

Russia's central bank has taken legal action against Euroclear, a Brussels-based financial institution holding most of the frozen Russian assets targeted by the EU for financing Ukrainian aid. The lawsuit, filed in Moscow, seeks to recover losses allegedly caused by Euroclear's actions and anticipates potential EU measures to use these assets without Russia's consent. This move comes ahead of a critical European Council summit where EU leaders aim to unlock billions in Russian assets to support Ukraine.

EU Economy Commissioner Valdis Dombrovskis warned that Russia is likely to continue using legal tactics to obstruct the EU's efforts, emphasizing the bloc's commitment to upholding international law and ensuring Russia compensates Ukraine for the damages inflicted. The legal battle underscores the escalating tensions over the use of frozen assets and the broader geopolitical struggle between Russia and Western nations. 💸⚖️

Germany summons Russian ambassador over cyberattacks on air traffic control, general election

Germany has accused Russian-linked groups of launching cyberattacks on its air traffic control system and attempting to influence the 2024 general election, prompting the summoning of Russia’s ambassador in Berlin. The German foreign ministry revealed that hacker groups linked to Russia’s military intelligence service, the GRU, were responsible for these operations, including the August 2024 cyberattack on German air safety and the "Storm 1516" campaign aimed at destabilizing the election. The campaign spread deepfake images and false claims about prominent politicians, including Chancellor Friedrich Merz and Green Party leaders Annalena Baerbock and Robert Habeck.

Moscow has vehemently denied the allegations, calling them "absurd" and "baseless." Despite this, Germany claims to have "solid proof" of Russia's involvement, though details were withheld to protect intelligence sources. The head of Germany’s domestic intelligence agency, Sinan Selen, emphasized that the "Storm-1516" campaign is part of a broader disinformation ecosystem targeting democratic institutions. In response, Germany plans to impose new sanctions against hybrid actors in coordination with EU partners and will monitor cross-border travel by Russian diplomats within the Schengen Area to mitigate intelligence risks. 🇩🇪💻🔍

Kristersson: Good with agreement

The European Union has taken a significant step in its response to Russia's aggression against Ukraine. At an ambassadorial meeting on Thursday, a legal solution was agreed upon that prevents any country from vetoing the continued freezing of Russian state assets. This decision, backed by a large majority and confirmed in a written procedure, ensures that EU nations will not need to renew the freeze every six months. Instead, the assets will remain frozen until Russia compensates Ukraine for war reparations. Swedish Prime Minister Ulf Kristersson praised the move on X, calling it a strong signal of the EU's long-term support for Ukraine. However, he emphasized that further decisions are necessary and highlighted the importance of the upcoming EU summit. This development underscores the EU's commitment to holding Russia accountable and supporting Ukraine in the face of ongoing conflict. 🇪🇺🇷🇺

High dependence on gas costs Greeks

Despite Greece's growing reliance on renewable energy sources (RES), the country remains one of the most expensive in Europe for wholesale electricity, primarily due to its heavy dependence on natural gas and insufficient energy storage infrastructure. While renewable energy significantly lowers prices during peak production hours, the cost of electricity surges at night when natural gas usage rises. The gap between the lowest and highest daily electricity prices has widened, increasing from €128 per megawatt-hour in 2024 to €143.4/MWh in 2025. This trend is driven by the simultaneous growth in both renewable and natural gas production, with the latter rising by 12.6% in early 2025, partly due to exports.

The Green Tank, an environmental think tank, highlights that while renewables help reduce costs, their impact is overshadowed by the price-increasing effect of natural gas. This issue has also caught the attention of the Competition Commission, which is investigating potential market manipulation following findings by the European regulator ACER. The analysis, based on real-time data from the European Network of Transmission System Operators for Electricity (ENTSO-E), compares Greece with Portugal, a country with similar energy characteristics but consistently lower electricity prices. Since Russia’s invasion of Ukraine, Greece’s electricity prices have been significantly higher—36% on average and peaking at 78% more expensive in April 2024. Additionally, Greece experiences much greater price fluctuations compared to Portugal, underscoring the challenges of its energy market structure. 💡💰

Greece pledges €20 million to NATO fund for Ukraine

Greece has committed €20 million to NATO’s Prioritized Ukraine Requirements List (PURL), a fund designed to address Ukraine’s most critical battlefield needs. This contribution, reflecting Greece’s current fiscal capacity, has been formally communicated to NATO and U.S. authorities. The move underscores Greece’s alignment with Washington’s policy direction and its commitment to supporting Ukraine amid ongoing conflicts. While the financial contribution is modest, it signifies Greece’s continued engagement in the broader effort to assist Ukraine. 💰🇬🇷🇺🇦

Political instability: What's next for Bulgaria after the massive Gen Z protests?

Bulgaria is facing a critical juncture as massive protests led by Generation Z demand political change, exposing deep-seated issues within the country's political landscape. The protests, driven by demands for accountability, transparency, and systemic reform, have highlighted widespread dissatisfaction with the current government and political establishment. The youth-led movement has gained significant momentum, reflecting broader societal frustrations with corruption, economic inequality, and a lack of representation.

The protests have also underscored the growing influence of younger generations in shaping Bulgaria's political future. As the country grapples with these challenges, the path forward remains uncertain. The government faces mounting pressure to address the protesters' demands, but the political instability and deep-rooted issues make meaningful change difficult. The situation in Bulgaria serves as a microcosm of broader generational shifts and political upheavals occurring across Europe, where younger populations are increasingly asserting their voices and demanding a more responsive and equitable political system. The outcome of this crisis will likely have lasting implications for Bulgaria's political trajectory and its place within the European Union. 🇧🇬💥

Greece’s public sector union calls Dec 16 strike as budget vote nears

Greece’s public sector union, ADEDY, has announced a nationwide 24-hour strike on December 16, coinciding with the Parliament’s scheduled vote on the 2026 state budget. The strike is part of a broader mobilization against the budget and in support of farmers who are staging nationwide protests. ADEDY has called on all workers to join the strike rallies organized by various labor associations and unions. Additionally, the Central Union of Municipalities of Greece (KEDE) has announced that municipal offices will be closed on December 16, and local officials are urged to participate in a protest outside Parliament. The mobilization seeks to secure increased state funding for municipalities amid growing discontent over fiscal policies. 🇬🇷💪

Cyprus to prioritize Moldova’s EU accession as it takes bloc’s presidency

Cyprus is set to prioritize Moldova’s European Union (EU) accession bid when it assumes the bloc’s rotating presidency on January 1. President Nikos Christodoulides pledged to push for significant progress in the coming months, emphasizing the importance of bringing Moldova closer to EU membership. Moldova applied for EU membership in 2022, aiming to join by 2030, and its pro-European stance has been a cornerstone of its national strategy, particularly in the face of perceived threats from Russia.

Moldovan President Maia Sandu, during an official visit to Cyprus, underscored that EU accession is not just a strategic goal but a critical survival strategy amid ongoing security challenges. She highlighted that advancing EU enlargement would bolster the bloc’s eastern frontier, enhance Ukraine’s security, and prevent malign actors from undermining Moldova’s sovereignty. Sandu’s Party of Action and Solidarity recently secured a decisive victory in parliamentary elections, reinforcing Moldova’s pro-European trajectory despite accusations of Russian interference, which Moscow denies.

An EU assessment in November commended Moldova’s progress on necessary reforms, signaling positive momentum in its accession journey. 🇨🇾🇲🇩🇪🇺

'In line with the times': Norway announces stricter immigration rules

Norwegian Prime Minister Jonas Gahr Støre has announced a series of tightened immigration measures as part of his new "Plan for Norway," aimed at promoting "controlled, sustainable, and fair immigration." These reforms, set to be officially presented on December 15th, are designed to adapt to global developments and safeguard Norway’s integration capacity, particularly in response to the strain on municipalities from increased immigration, including from Ukraine.

Key measures include faster deportation of foreign nationals linked to criminal networks, even if they haven’t committed crimes in Norway. Justice Minister Astri Aas-Hansen emphasized that authorities will assess risks and deport individuals with proven ties to criminal organizations. Additionally, family reunification rights will be restricted, particularly for unaccompanied minors in cases of trafficking or forced marriage, and for parents or siblings of adults who have already established families in Norway. Stricter requirements for spouses to learn Norwegian and support themselves financially will also be enforced, with increased income thresholds for sponsors.

The government plans to reduce the refugee quota to a minimum of 100 individuals per year and strengthen return policies for those without legal residency. Støre expressed support for EU proposals to establish return centers for asylum seekers outside Europe, despite ongoing controversy. He also highlighted concerns about immigrants exploiting social security systems and emphasized the need for Europe to combat migration-related crime.

These immigration reforms are part of Støre’s broader "Plan for Norway," which focuses on national security, economic stability, and countering "hybrid threats." Breaking from tradition, the plan will be updated annually to ensure flexibility and responsiveness to global changes. The 2025 plan prioritizes defense, economic security, and resilience against emerging challenges. 🌍🇳🇴

Italy wants to see alternatives for Russian assets

In a significant development, Malta, Bulgaria, and Italy have joined Belgium in urging the European Commission to explore alternative, "less risky" solutions to support Ukraine. The alternative in question involves providing Ukraine with a substantial loan backed by the EU budget as collateral. However, this proposal requires unanimous approval from all member states, which has become increasingly uncertain due to growing resistance.

The four countries, despite not being able to block the original proposal even with the support of pro-Russian Hungary and Slovakia, are expressing concerns that could delay the process. Belgium, in particular, holds the lion's share of frozen Russian assets, totaling €210 billion, and is hesitant due to fears of potential future claims for damages from Russia. This resistance poses a setback for the Commission, which had aimed to secure a broad political agreement at the upcoming EU summit. The situation underscores the complexities and challenges of achieving consensus on critical financial measures to aid Ukraine amidst geopolitical tensions. 💸🔒

UK relaxed about Trump’s social media checks for tourists

Britain's Trade Secretary Peter Kyle has declined to criticize the Trump administration's proposal requiring tourists to submit five years of social media data before entering the U.S. This plan, announced just before the upcoming World Cup, has sparked concern among some European politicians. The move, which includes visitors from Britain, has raised questions about privacy and the potential impact on travel to the U.S. 🌐🏛️

Nordea bank accused of lax monitoring of sanctions on Russia

Nordea, one of Finland's largest banks, has faced criticism from the Financial Supervisory Authority (Fiva) for failing to adequately collect information on corporate customers at high risk of evading sanctions against Russia. A recent inspection report revealed that Nordea lacked up-to-date details on board members and owners of high-risk companies, as it did not consistently update data from the Finnish Patent and Registration Office (PRH). Additionally, the bank was found to have insufficient information about customers operating in high-risk countries for sanctions evasion.

Nordea's General Counsel, Sakari Wuolijoki, acknowledged the findings but expressed surprise at their severity, stating that the bank believed its systems for preventing sanctions circumvention were effective. He defended the bank's manual updating process, arguing that trade register data is often incomplete. This is not the first time Nordea has faced scrutiny over its handling of financial matters related to Russia. In 2023, the bank settled a case with a U.S. regulator for $35 million over failures in monitoring money-laundering activities between 2008 and 2019. 🏦💸

Today in Norway: A roundup of the latest news on Friday

Norwegian Prime Minister Jonas Gahr Støre is poised to unveil a series of stringent immigration measures, including the deportation of individuals deemed a crime risk, even without prior convictions, stricter family reunification policies, expedited deportations for those without residence rights, and a commitment to accepting no more than the minimum 100 UN quota refugees annually. The government is also considering joining EU nations in establishing offshore asylum processing centers outside Europe.

In aviation news, Aer Lingus is launching a new route from Dublin to Oslo, marking the airline's return to Scandinavian operations after a nine-year hiatus. The service, set to begin on May 1st next year, follows the recent introduction of a flight from Dublin to Tromsø. Meanwhile, Venezuelan opposition leader Maria Corina Machado, recently awarded the Nobel Peace Prize, reunited with her children in Oslo after months in hiding. Emotional and relieved, she described their reunion as one of the most profound moments of her life. 🛫🇳🇴🏆

Conference tourism and daily struggles

The Greek government is facing criticism for prioritizing international conferences and high-profile appearances over addressing pressing domestic issues. A recent event in New York, aimed at encouraging Greek expatriates to return home, featured an unusually large delegation, including two ministers, two deputy ministers, and two general secretaries. This raised questions about the necessity of such a large group traveling abroad and whether each official was assigned to personally persuade specific individuals to return. Similarly, a smaller delegation attended a corresponding event in London, led by Labor Minister Niki Kerameus.

The government's frequent international engagements, including Prime Minister Kyriakos Mitsotakis's daily conference appearances and Energy Minister Stavros Papastavrou's frequent trips between Athens and Washington, have drawn scrutiny. While global engagement is valuable, critics argue that these activities distract from urgent domestic challenges, such as farmers' blockades, sky-high housing costs, low wages, and bureaucratic inefficiencies. These issues are precisely what discourage potential returnees from considering a move back to Greece.

Beyond conference tourism, government officials are also engaged in various high-profile activities, such as debates on monogamy, publishing books, and producing professional social media content. This has led to public frustration, with many questioning when these officials actually govern. The perception is that while ordinary citizens struggle with daily life, the cabinet appears to have ample time for extracurricular pursuits, embodying a "YOLO" (You Only Live Once) mindset. This disconnect between the government's activities and the realities faced by ordinary Greeks has sparked concerns about the government's priorities and effectiveness. 🌍💼

'Signs of recovery' in Latvian economy, says economist

The Baltic economies are showing signs of gradual recovery from recent shocks, with varying growth rates across the region. Lithuania leads with faster progress, while Estonia's recovery is slower, and Latvia's growth is driven by domestic demand and a more stable export outlook. The overall economic dynamic in the region is positive, with GDP expected to increase by 1% in 2025 and accelerate to 2.5% in 2026. Domestic demand and exports, despite international trade tensions, will be key drivers of this growth.

The global economic situation has improved, with stabilized market expectations, reduced tariff risks, and a growing services sector. This positive trend is crucial for small, open economies like the Baltic states, offering opportunities to strengthen their recovery. In Latvia, the manufacturing sector is improving, supported by rising external demand and a stable euro area economy. Consumer confidence is improving, although private consumption remains below long-term potential. Inflation, which was high at 3.5% in 2025, is expected to decrease to 2% in 2026 and stabilize at 2.5% in 2027. The labor market in Latvia remains stable, with the lowest unemployment rate in the Baltics.

Lithuania continues to show the fastest growth, with GDP expected to grow by 2.5–3% in 2026, driven by stable domestic demand. Estonia's recovery is slower, with GDP growth of only 0.5% this year and inflation reaching 5.3%. Overall, inflation in the Baltics is stabilizing but remains high, influenced by rising service and food prices. The negative impact of energy prices has diminished, indicating that future inflation dynamics will be determined by local factors. 📈🌍

Trump: Kevin Warsh is top candidate for Fed chief

In a recent interview with The Wall Street Journal, President Donald Trump confirmed that Kevin Warsh, a former Federal Reserve official, is his leading candidate to replace Jerome Powell as Fed chairman when Powell's term expires in May. Warsh's alignment with Trump's desire for further interest rate cuts may be a key factor in his favor. However, Trump also hinted that Kevin Hassett, a White House economic adviser previously seen as the front-runner, remains a strong contender. "You could say we have Kevin and Kevin. In my opinion, there are two Kevins who are really good," Trump stated, while also noting that several other candidates are under consideration.

Trump has been vocal about his dissatisfaction with Powell's cautious approach to rate cuts, accusing him of being too slow to act. The president has even suggested that the Fed chairman should consult with him on interest rate decisions. Treasury Secretary Scott Bessent has indicated that Trump may announce his decision before Christmas. The ongoing pressure from Trump underscores the political stakes surrounding the Fed's leadership and monetary policy. 🏛️💵