European Union countries on Friday approved a trade deal with four South American countries, in a sign that President Trump’s antipathy to free trade hasn’t killed the rest of the world’s hunger for global commerce, the Wall Street Journal reported. The pact between the EU and the founding countries of the Mercosur customs union—Argentina, Brazil, Paraguay and Uruguay—is poised to become one of the bloc’s largest free-trade agreements. It is part of a European effort to curb economic reliance on the U.S. and China by boosting commercial ties with other countries.
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European leaders committed to lend Ukraine 90 billion euros, equivalent to around $105 billion, to help the country keep fighting Moscow’s invasion but failed to agree on a plan to use frozen Russian assets for the loan, the Wall Street Journal reported. The vow to loan Ukraine money amounts to a financial lifeline at a crucial moment, but the European Union’s inability to agree on handing Kyiv tens of billions of dollars in Russian funds underlines divisions in the bloc over the extent to which they are prepared to confront Russia.
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Russia’s Central Bank has filed a lawsuit against Belgian financial institution Euroclear, the Brussels-based clearing house that holds most of Moscow’s frozen assets in Europe, the bank said Friday, the Associated Press reported. It wasn’t immediately clear what the lawsuit could achieve since it was filed in Moscow. The European Commission, the EU’s executive branch, estimates that 210 billion euros ($247 billion) worth of frozen Russian assets are held in Europe. At the end of September, Euroclear held around 193 billion euros ($225 billion) of the money.
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The EU executive will present fresh guidelines on Wednesday meant to reinforce the bloc’s market protection in the face of rising foreign risks, EuroNews.com reported. The doctrine's launch comes after months of tense exchanges with China, which has restricted exports of rare earths and chips – both crucial to several strategic EU industries. The EU is also grappling with a sharp shift in the trade policy of its closest ally, the US, whose nationalist, protectionist approach has put Brussels under extreme pressure, resulting in what many see as an unbalanced trade deal reached in July 2025.
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