Latest news with #G7-led
Straits Times
22-05-2025
- Business
- Straits Times
G7 seeks to cut 'excessive imbalances' in global economy, may impose more Russia sanctions
Deutsche Bundesbank President, Joachim Nagel and German Finance Minister, Lars Klingbeil atttend a press conference during the G7 finance ministers and central bank governors meeting in Banff, Alberta, Canada, May 22, 2025. Jeff McIntosh/Pool via REUTERS Reuters/Pool via REUTERS German Finance Minister, Lars Klingbeil speaks during the G7 finance ministers and central bank governors meeting in Banff, Alberta, Canada, May 22, 2025. Jeff McIntosh/Pool via REUTERS Reuters/Pool via REUTERS G7 seeks to cut 'excessive imbalances' in global economy, may impose more Russia sanctions BANFF, Alberta - Finance ministers and central bank governors from the Group of Seven democracies papered over their differences on Thursday, pledging to address "excessive imbalances" in the global economy and saying they could increase sanctions on Russia. Ahead of the meeting there had been doubt about whether there would be a final communique, given divisions over U.S. tariffs and Washington's reluctance to refer to Russia's war on Ukraine as illegal. But after talks that stretched over three days, participants signed on to a lengthy document. "We found common ground on the most pressing global issues that we face," Canadian Finance Minister Francois-Philippe Champagne told the closing press conference. "I think it sends a very clear signal to the world ... that the G7 is united in purpose and in action." The finance ministers and central bank governors, who met in the Canadian Rocky Mountains, said there was a need for a common understanding of how "non-market policies and practices" undermine international economic security. The document did not name China, but references by the U.S. and other G7 economies to non-market policies and practices often are targeted at China's state subsidies and export-driven economic model. The communique called for an analysis of market concentration and international supply chain resilience. "We agree on the importance of a level playing field and taking a broadly coordinated approach to address the harm caused by those who do not abide by the same rules and lack transparency," it said. European Commission Executive Vice President Valdis Dombrovskis said the G7 ministers discussed proposals for further sanctions on Russia to try to end its war in Ukraine. They included lowering the G7-led $60-per-barrel price cap on Russian oil, given that Russian crude is now selling under that level, he said. The G7 participants condemned what they called Russia's "continued brutal war" against Ukraine and said that if efforts to achieve a ceasefire failed, they would explore all possible options, including "further ramping up sanctions." They also pledged to work together to ensure no countries that financed the Russian war would be eligible to benefit from the reconstruction of Ukraine. "That's a very big statement," said Champagne, calling it a fundamental pillar of the communique. Russia's sovereign assets in G7 jurisdictions would remain immobilized until Moscow ended the war and paid for the damage it has caused to Ukraine, the communique said. It did not mention a price cap. Brent crude currently trades around $64 per barrel. A European official said the United States is "not convinced" about lowering the Russian oil price cap. A U.S. Treasury official did not immediately respond to a request for comment. Champagne said the meeting discussed the tariffs that the United States has imposed on major trading partners but did not give details of the discussions. The U.S. Treasury said earlier this week that Secretary Scott Bessent intended to press G7 allies to focus on rebalancing the global economy to protect workers and companies from China's "unfair practices." The Chinese embassy in Ottawa said it could not immediately comment. The communique also recognized an increase in low-value international "de minimis" package shipments that can overwhelm customs and tax collection systems and be used for smuggling drugs and other illicit goods. The duty-free de minimis exemption for packages valued below $800 has been exploited by Chinese e-commerce companies including Shein and Temu. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
09-04-2025
- Business
- Yahoo
EU to transfer €2.1bn from frozen Russian assets to Ukraine
The European Union will soon receive the second transfer of funds generated from the proceeds of frozen Russian assets, which will then be paid to Ukraine. Source: European Commission, as reported by European Pravda Details: This week, the EU requested €2.1 billion in windfall revenues from frozen assets of the Russian Central Bank held in central securities depositories. This will mark the second such transfer, following the initial tranche disbursed in July 2024. It covers income accumulated during the second half of 2024. These funds originate from the Russian Central Bank's assets frozen due to EU sanctions imposed in response to Russia's ongoing war of aggression against Ukraine. Although the assets themselves remain frozen, the revenues they generate are being used to support Ukraine. The proceeds from this tranche will be channelled through the European Peace Facility, as agreed by the EU Council in 2024, and the Ukraine Fund to strengthen Ukraine's defence capabilities and contribute to the country's recovery and reconstruction. This measure is part of the EU's unwavering commitment to support Ukraine for as long as needed. Future tranches will primarily be allocated to ensure Ukraine can repay funds received under the G7-led Extraordinary Revenue Acceleration for Ukraine (ERA) loans initiative, while a limited portion will continue to be disbursed via the European Peace Facility. Background: On 9 April, the European Union transferred a €1 billion loan tranche to Ukraine as part of the ERA initiative, backed by proceeds from frozen Russian assets. In 2024, the G7 agreed to jointly provide Ukraine with a US$50 billion loan secured by Russian assets. The funds are formally issued as a loan but will be repaid using the revenues from the frozen Russian assets. Support Ukrainska Pravda on Patreon!
Yahoo
20-03-2025
- Business
- Yahoo
EU provides $1 billion in aid to Ukraine backed by frozen Russian assets
The European Commission has disbursed an additional 1 billion euros ($1.1 billion) in Macro-Financial Assistance (MFA) to Ukraine, to be repaid with proceeds from frozen Russian assets, the commission announced on March 20. "With today's payment of 1 billion euros, we are reiterating our steadfast commitment to Ukraine. We are helping the country's economy stay on course and rebuild critical infrastructure damaged by Russian aggression," Commission President Ursula von der Leyen said. Western nations froze around $300 billion in Russian assets after Moscow launched its full-scale invasion of Ukraine in February 2022, with roughly two-thirds held in Europe. The MFA amounts to 18.1 billion euros ($19.6 billion) in total, representing the EU's contribution to a G7-led initiative that collectively aims to provide Ukraine with approximately 45 billion euros ($48.8 billion) in financial support. With this latest payment, the European Commission has disbursed 4 billion euros ($4.3 billion) to Ukraine under the MFA since the start of 2024. In October 2024, the Group of Seven agreed to provide Ukraine with nearly $50 billion in loans backed by the revenue generated from frozen Russian assets. Read also: Extending NATO's Article 5 to Ukraine would test Russia's peace intentions, Meloni says We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Axios
03-03-2025
- Business
- Axios
How Russia's war on Ukraine reshaped the energy world
Russia's invasion of Ukraine upended global petro-flows — maybe forever — but the effects on low-carbon transition are tougher to parse. Why it matters: Monday marks three years since the launch of the attack. Here are some effects within energy circles ... Climate crosscurrents. There was plenty of chatter when the war started that it would speed energy transition in Europe and perhaps beyond. Yes, but: It also put the spotlight on U.S. LNG as shipments to Europe grew, while then-President Biden in 2022 urged U.S. oil producers to boost supply. Driving the news: The Atlantic Council's new global survey of energy experts — from industry, academia, government and more — is mixed on this question. What they found: 38% see the conflict slowing the process toward net zero, 31% see an accelerant, while the remainder see no effect. And just 25% see a major impact in either direction. It's a new map. Europe's efforts to shun Russian oil and pipelined gas have redirected shipments, deepening Kremlin energy ties with China and India. Zoom in: China's oil imports from Russia rose to 2.4 million barrels per day last year, per IEA data. India's increase has been stunning, rising from roughly 100,000 barrels per day in 2021 to roughly 2 million in 2023 and 2024, per IEA. State of play: Europe vastly curbed imports of gas from Russia, once its dominant supplier, thanks to cutting pipelined supply. LNG shipments from its eastern neighbor have risen, but overall Russia now has just a small fraction of its prior 40% share of European gas imports. Real but limited economic pushback on the Kremlin. Russia's "shadow fleet" of tankers has stymied the effects of oil sanctions and the G7-led price cap. The big picture: Volumes have declined slightly, but Russian oil has been an "enduring" presence, said Landon Derentz, senior Atlantic Council energy analyst. The conflict has not deterred a "meaningful portion of Russian oil flows from reaching the market," he said. What we're watching: U.S. talks with Russia over ending the war. U.S. Treasury Secretary Scott Bessent has raised the prospect of tougher oil sanctions to force talks, and easing restrictions as an incentive. Meanwhile, there's chatter about what once sounded far-fetched: resumption of large-scale Russian pipeline gas flows to Europe, which is grappling with high prices, if the war ends.
Yahoo
01-03-2025
- Business
- Yahoo
Starmer hugs Zelensky and says: We stand with Ukraine
Sir Keir Starmer hugged Volodymyr Zelensky and told him 'we stand with Ukraine' as the pair met at Downing Street today. Mr Zelensky told Sir Keir 'we count on your support' and said he was 'really happy that we have such partners and such friends' as the pair embraced outside No10. Today's meeting follows an angry clash with the US president at the White House last night, during which Mr Trump warned that Mr Zelensky was 'gambling with World War Three'. The Ukrainian leader also expressed his gratitude to the King for agreeing to welcome him at the Royal Family's Sandringham estate on Sunday evening. 'I'm very happy that His Majesty the King accepted my meeting tomorrow,' Mr Zelensky said. Thank you for tuning in to our live blog of Volodymyr Zelensky's visit to No. 10. We'll be back tomorrow to bring you all the latest updates as European leaders gather in London to discuss the continent's security. This live blog is now closed. The UK and Ukraine signed a loan agreement worth £2.26 billion ($2.84 billion), to support Kyiv's defence capabilities, which London called a sign of 'our unwavering and ongoing support for the Ukrainian people'. Rachel Reeves, the chancellor, signed the agreement on a virtual call with Sergii Marchenko, Ukraine's finance minister, alongside Sir Keir Starmer and Volodymyr Zelensky in No. 11 this evening. During talks in Downing Street with Volodymyr Zelensky, Rachel Reeves signed off on the latest extraordinary revenue acceleration (ERA) loan to Ukraine. The G7-led initiative collectively aims to provide approximately €45 billion in financial support to Ukraine. The G7 launched the commitment in June last year, and the European commission made its first €3 billion contribution in January. The loans are set to be repaid with proceeds from immobilised Russian assets. Emmanuel Macron spoke to both Donald Trump and Volodymyr Zelensky on Saturday in an apparent bid to patch up transatlantic relations following the Ukrainian leader's disastrous encounter with Donald Trump. Sir Keir Starmer also reportedly spoke to both Kyiv and Washington on Saturday evening in order to pick up the pieces after the historic Oval Office blow out. Mr Macron's discussion were part of preparations for a meeting of European leaders on Sunday in London, as well a special European Union summit on March 6, the Elysee Palace said. Downing Street talks between Sir Keir Starmer and Volodymyr Zelensky have come to an end. The talks lasted around an hour and twenty minutes and opened with a warm embrace between the two leaders, followed by a supportive exchange in front of journalists. The prime minister assured Mr Zelensky that 'we stand with Ukraine', while the Ukrainian leader expressed his gratitude and said 'we count on your support'. Mr Zelensky was pictured leaving No. 10 alongside the prime minister before being whisked away by a motorcade. The Ukrainian leader is staying on in London tomorrow, when there is a meeting between European leaders to discuss security amid concerns over continued US support for Kyiv. Mr Zelensky has also been invited for an audience with the King tomorrow evening. Volodymyr Zelensky insisted that he is grateful for US support in the war against Russia, but said Donald Trump needs to stand 'more firmly' behind Ukraine. In a message on social media, which was posted as he touched down in London on Saturday morning, the Ukrainian president said: 'It's crucial for us to have President Trump's support.' In a new series of 14 posts, totalling more than 600 words, Mr Zelensky said: 'I want the US to stand more firmly on our side.' He added that Ukraine was ready to sign a minerals agreement, which would be the first step towards security guarantees, but said: 'It's not enough, and we need more than just that.' Read the full report here Volodymyr Zelensky hailed a 100-year partnership agreement with the UK as a 'historic document'. Mr Zelensky said: 'I'm thankful that you organised such great summit for tomorrow. 'And we are very happy in Ukraine that we have such strategic partners, we've signed with you historic document.' The prime minister interjected 'the 100-year agreement', before Mr Zelensky continued: 'Yeah, we have only with you such documents, with the United Kingdom, so we're happy and we count on your support and really, really, really happy that we have such partners and such friends.' On 16 January, Sir Keir Starmer signed a the accord with Ukraine as part of a European show of support and to provide promises to continue helping Kyiv stand up to Russian aggression. Volodymyr Zelensky expressed his gratitude to the King for agreeing to meet him on his visit to the UK,. 'I'm very happy that His Majesty the King accepted my meeting tomorrow,' Mr Zelensky said. King Charles is understood to have invited the Ukrainian leader for a meeting tomorrow evening, with reports suggesting Mr Zelensky will be welcomed at the royal family's Sandringham estate. 'Zelensky was always due to be in the UK this weekend and so a meeting with the King was pencilled in,' a Palace insider told The Sun. Volodymyr Zelensky thanked the British people for their unbending support during a brief media exchange after entering No. 10. The Ukrainian president said he saw 'a lot of people' gather outside Downing Street and thanked the United Kingdom for its support. He said: 'With pleasure, thank you very much Keir, Mr Prime Minister, happy to be here. 'Really, I saw a lot of people, and I want to thank you, people of the United Kingdom, such big support from the very beginning of this war, thank you, your team. Amid the chorus of world leaders who shared messages in support of Ukraine yesterday following Volodymyr Zelensky's devastating encounter with Donald Trump, Sir Keir Starmer was conspicuously absent. Donald Tusk, the Polish prime minister, told Mr Zelensky he was 'not alone'. Friedrich Merz, the incoming German chancellor, said 'we stand with #Ukraine in good and in testing times'. Sir Keir, meanwhile, congratulated Baronness Chapman on being appointed the new minister for international development, following the resignation of Anneliese Dodds. It is easy to understand why. Sir Keir enjoyed one of the most successful days of his premiership when he wooed Mr Trump on Thursday - with the help of a signed letter from the King. Yet all that work appeared to have been left in tatters after things turned sour the next day when Mr Zelensky arrived in Washington. Sir Keir is said to have spoken to Mr Zelensky and Mr Trump in private. His greeting and warm words towards Mr Zelensky today will have been designed to clear up any shadow of a doubt over where Britain stands regarding its support for Ukraine. Volodymyr Zelensky praised Britain for being 'such big support from the very beginning'. He expressed optimism about a summit to be held tomorrow in London with European leaders and said he is 'very happy in the UK' 'We're happy and count on your support and really really have [been] such partners,' he finished. Sir Keir Starmer and Mr Zelensky will now convene behind closed doors for private talks. Sir Keir Starmer has told Volodymyr Zelensky's that Ukraine has Britain's 'full backing', as US support hangs in the balance. 'You have full backing across the United Kingdom and we have full backing for Ukraine for as long as it takes,' Sir Keir said,. The prime minister went on to say that the cheers of support from the crowds outside Downing street show the people of Britain's 'unwavering determination' to stand with Ukraine and support its sovereignty. Sir Keir Starmer's decision to walk some way from the door of Downing Street to welcome Volodymyr Zelensky with a hug will serve for many as a symbol of British support for Ukraine. Mr Zelensky then waved to the cameras while Sir Keir gave a thumbs up, suggesting a warmth between the two before talks get under way. Volodymyr Zelensky has arrived at Downing Street amid a fleet of Range Rovers. Dressed in his trademark black polo emblazoned with the Ukrainian military trident, he marched alone towards Sir Keir Starmer. The prime minister, meanwhile, walked some way from the door of No. 10 and greeted the Ukrainian leader with a warm embrace. The pair then walked back towards the steps of Downing Street and exchanged a few words before Sir Keir ushered his counterpart inside No. 10. The motorcade carrying president Zelensky is turning into Downing Street. The King is expected to meet Ukrainian president Volodymyr Zelensky on Sunday evening, the Telegraph understands. Official audiences with a head of state take place on the advice of the Government. Such one-to-one meetings are considered entirely private and no written transcript or recording is made. They normally take place at a royal residence, such as Buckingham Palace or St James's Palace, and last around 20 minutes. Buckingham Palace does not reveal details of such meetings but is likely to release an advisory, including a photograph of the two men together, afterwards, as per normal practice. The meeting follows Zelensky's clash with Donald Trump in Washington DC on Friday. Mr Trump has been effusive in his praise of the King, describing him as a 'beautiful man, a wonderful man'. The King has invited the US president for an unprecedented second visit and has also proposed a meeting to discuss the details at either Dumfries House or Balmoral, in Scotland. King Charles will meet Volodymyr Zelensky at his Sandringham country retreat tomorrow. The meeting comes as concerns grow over the future of the Nato transatlantic alliance following Mr Zelensky's blow out with Donald Trump in the Oval office on Friday. 'Zelensky was always due to be in the UK this weekend and so a meeting with the King was pencilled in,' a Palace insider told The Sun. They added that the royal welcome was planned before the clash between Mr Zelensky and Mr Trump and insisted the meeting is not a response to the White House spat. The US, Ukraine and Europe need to 'stick together' in order to secure a 'durable peace' in Ukraine, Nato chief Mark Rutte said. He told the BBC: I have been twice on the phone now with President Zelensky. I told him this, we need to stick together, the United States, Ukraine and Europe to bring Ukraine to a durable peace. He added that President Zelensky must 'find a way' to restore his relationship with Donald Trump after the two clashed in the White House. Mr Rutte said he had talked to the Ukrainian leader and told him: You have to find a way, dear Volodymyr, to restore your relationship with Donald Trump and the American administration. Volodymyr Zelensky said he was still 'ready' to sign a minerals deal with the United States. Mr Zelensky said: We are ready to sign the minerals agreement, and it will be the first step toward security guarantees. But it's not enough, and we need more than just that. A ceasefire without security guarantees is dangerous for Ukraine. We've been fighting for 3 years, and Ukrainian people need to know that America is on our side. I cannot change Ukraine's position on Russia. The Russians are killing us. Russia is the enemy, and that's the reality we face. Ukraine wants peace, but it must be a just and lasting peace. For that, we need to be strong at the negotiation table. Peace can only come when we know we have security guarantees, when our army is strong, and our partners are with us. Germany's foreign minister said the 'unspeakable' clash between Donald Trump and Volodymyr Zelensky in the White House resembled a 'bad dream.' Foreign minister Annalena Baerbock said: Yesterday evening underlined that a new age of infamy has begun. Many of you will have slept uneasily after seeing the unspeakable videos from the White House. Honestly, I did too. Sadly this was not a bad dream, but a heavy reality. She has also urged that both Germany and the EU to facilitate support for Ukraine. Hungary's PM Viktor Orban has called on the EU to open direct talks with Russia to end the war in Ukraine. 'I am convinced that the European Union - following the example of the United States - should enter into direct discussions with Russia on a ceasefire and a sustainable peace in Ukraine,' Orban wrote to Antonio Costa, who heads the Council of the EU's 27 member states. Emmanuel Macron said if someone is gambling with World War III, it is not Volodymyr Zelensky but Vladimir Putin. He said: 'If anyone is gambling with World War III, his name is Vladimir Putin.' He added: 'My hope is that the United States of America will continue to stand by its history and its principles. Whenever we have had major conflicts, the United States of America has been on the right side of history and freedom.' Mr Macron reacted to Friday's clash between Donald Trump and Mr Zelensky during which the US president accused his Ukrainian counterpart of 'gambling with World War III.' Giorgia Meloni has called for an 'immediate' summit between the US, EU and Western allies to discuss the situation in Ukraine, after the disastrous meeting between Donald Trump and Volodymyr Zelensky. The Italian prime minister said the summit was needed to 'talk frankly about how we intend to deal with the great challenges of today, starting with Ukraine, which together we have defended in recent years, and those that we will be called upon to face in the future.' She added: 'Every division of the West makes us all weaker and favours those who would like to see the decline of our civilisation. Not of its power or influence, but of the principles that founded it, first and foremost freedom. A division would not benefit anyone.' European leaders are set to meet in London tomorrow. Volodymyr Zelensky is invited and expected to attend. America is not involved in the meeting. German president Frank-Walter Steinmeier has criticised Donald Trump for his behaviour during the meeting with Volodymyr Zelensky. Mr Steinmeier said: Diplomacy fails when negotiating partners are humiliated in front of the whole world. The scene in the White House yesterday took my breath away. I would never have believed that we would one day have to protect Ukraine from the USA. Nigel Farage said the clash between Volodymyr Zelensky and Donald Trump in the White House was 'regrettable and will make Putin feel like the winner.' Reform UK leader said: Kemi Badenoch has called Volodymyr Zelensky a 'hero' and said she was entirely behind the Government's support for Ukraine. During her first Northern Ireland visit as Tory leader, Badenoch said: It was quite an extraordinary press conference. We all need to remember that President Zelensky is a hero. He represents the Ukrainian people's strength and their resistance to an authoritarian regime that is trying to destroy them. I think it is inappropriate to conduct that kind of disagreement in front of cameras. The only person who benefits from that is President Putin. The Prime Minister and I are united in support for Ukraine. Ukraine is fighting a war on behalf of the whole of Europe and what we need to do now is look at how we can help them in the immediate term and in the longer term. Russia said its goals in Ukraine remained unchanged after Volodymyr Zelensky's trip to Washington. 'Russia's unchanging goals remain the demilitarisation and denazification of Ukraine, as well as the recognition of the existing realities on the ground,' foreign ministry spokeswoman Maria Zakharova said. She accused Mr Zelensky of being 'obsessed with continuing' the war. Russia said Volodymyr Zelensky's trip to the United States was a complete 'failure.' Moscow's foreign ministry spokeswoman Maria Zakharova said: The visit of the head of the neo-Nazi regime, V. Zelensky, to Washington on February 28 is a complete political and diplomatic failure of the Kyiv regime. Turkish Foreign Minister Hakan Fidan spoke with his Russian counterpart Sergey Lavrov about the war in Ukraine. The phone call came a day before Mr Fidan is due to attend a summit of European leaders in London. Turkey, which has close ties to both Ukraine and Russia, has previously offered to mediate talks. It hosted unsuccessful peace talks in 2022. The Norwegian government will soon ask that parliament increases its financial support for Ukraine, the country's prime minister said. Jonas Gahr Stoere said: I can say today that we will go back to parliament in the near future with a proposal to increase the support. Norway's parliament late last year agreed to spend a total of 35 billion Norwegian crowns (£2.4 billion) on military and civilian support for Ukraine in 2025. Mr Stoere will meet with European leaders and Ukrainian President Volodymyr Zelenskiy in London on Sunday. Former Russian President Dmitry Medvedev said Russia is ready for flexibility in talks on Ukraine, but only in accordance with the Russian constitution and realities on the ground. Mr Medvedev said Russia was ready to discuss a settlement of the Ukrainian crisis, but only with those 'who are ready to communicate.' Volodymyr Zelensky has publicly thanked Donald Trump for America's support after their meeting in the Oval Office descended into a shouting match last night, abruptly halting peace talks between the two leaders. As he landed in London to meet Sir Keir Starmer today, Mr Zelensky posted on X, formerly Twitter: 'I'm thankful to President Trump, Congress for their bipartisan support, and American people. Ukrainians have always appreciated this support, especially during these three years of full-scale invasion.' He added: 'America's help has been vital in helping us survive, and I want to acknowledge that. Despite the tough dialogue, we remain strategic partners.' The Ukrainian leader said Mr Trump's support was crucial, adding: 'He wants to end the war, but no one wants peace more than we do. We are the ones living this war in Ukraine. It's a fight for our freedom, for our very survival.' He added: 'The Russians are killing us. Russia is the enemy, and that's the reality we face. Ukraine wants peace, but it must be a just and lasting peace. For that, we need to be strong at the negotiation table. Peace can only come when we know we have security guarantees, when our army is strong, and our partners are with.' Sir Keir Starmer and Volodymyr Zelensky will meet in Downing Street this afternoon, No 10 said. A No 10 spokeswoman said: 'The Prime Minister and President Zelensky will be meeting in Downing Street this afternoon.' Volodymyr Zelensky has arrived in London after a clash with Donald Trump at the White House last night. Mr Zelensky's plane was seen arriving at Stansted Airport this morning. The plane's tail was emblazoned with Ukraine's blue and yellow flag, and a large convoy of black and grey 4x4s met it at the runway. The clash between Volodymyr Zelensky and Donald Trump has drawn criticism from within the Republican party. Republican congressman Mike Lawler said the Friday meeting was a 'missed opportunity' and that the 'only winner here was Vladimir Putin.' He said: The only winner here was Vladimir Putin and Russia because a deal did not come to be, which is also why I believe it's critically important for Zelensky and Trump to get back together and work towards finalising an agreement. When this conflict does come to an end, and it will at some point, Ukraine is going to need significant US and European investment to rebuild. Greek foreign minister George Gerapetritis said the US support in the conflict in Ukraine is necessary, although Europe still needs to upgrade its own defence infrastructure. Volodymyr Zelensky said it was 'very important' that Ukraine's plight was heard and not forgotten. 'It is very important for us that Ukraine is heard and that no one forgets about it, neither during the war nor after,' he said in a social media post alongside footage of a meeting with the Ukrainian community in Washington. He added: 'It is important for people in Ukraine to know that they are not alone, that their interests are represented in every country, in every corner of the world.' The US Secretary of State has urged Volodymyr Zelensky to apologise to Donald Trump after their televised shouting match at the White House on Friday. Marco Rubio, who was in the Oval Office for the meeting, described the scene as a 'fiasco' and called on Ukraine's president to say sorry. 'There was no need for him to go in there and become antagonistic,' Mr Rubio told CNN. 'When you start talking about that aggressively, and the president is a deal maker, he made deals his entire life, you're not going to get people to the table. 'And so you start to perceive that maybe Zelensky doesn't want a peace deal. He says he does, but maybe he doesn't.' Mr Zelensky refused to apologise on Friday night. He told Fox News: 'I respect the president and the American people. I'm not sure we did something bad.' Ukrainian MP Lisa Yasko said the clash between Donald Trump and Volodymyr Zelensky was a 'big shock' for Ukrainians. Yasko told BBC's 5 Live: It was a big for ordinary Ukrainians who still believed that the US and the West would help us. It's not a gamble. It's about millions of people. So this is very sensitive to all of us. We want to end war, but we also want to have respect. And we also don't want to forget who the aggressor is. Every conversation is about people's lives Sometimes you have to say no, if you understand that it will not bring you long term peace. A ceasefire without any understanding of future security is not going to help us. Volodymyr Zelensky thanked dozens of allies on social media after Donald Trump and JD Vance accused him of not being sufficiently grateful. Zelensky on X wrote the words 'Thank you for your support' in individual replies to around 30 messages of support from European leaders. Despite the confrontation, Zelensky earlier thanked Mr Trump, the US Congress and the American people for their support and for his visit. Credit: Fox News Channel's Special Report with Bret Baier Volodymyr Zelensky has insisted that he 'wants peace' in response to Donald Trump's suggestion that the Ukrainian president is 'looking to go on and fight'. 'That's why I visited president Trump,' he said on Fox News last night. He suggested Europe requires a US security guarantee to back up western peacekeeping troops in the country after the war ends. 'It will be difficult for us' to win the war and hold off Russia without American support, the Ukrainian president admitted. He said that agreeing the US-proposed deal on minerals would be the first step to achieving this. Volodymyr Zelensky and Donald Trump clash at a White House meeting has prompted an outpouring of reaction from across the globe. Spokesperson for Sir Keir Starmer: He retains his unwavering support for Ukraine and is playing his part to find a path forward to a lasting peace, based on sovereignty and security for Ukraine. Canadian prime minister Justin Trudeau: Russia illegally and unjustifiably invaded Ukraine. For three years now, Ukrainians have fought with courage and resilience. Their fight for democracy, freedom, and sovereignty is a fight that matters to us all. Canada will continue to stand with Ukraine and Ukrainians in achieving a just and lasting peace. German Chancellor Olaf Scholz: No one wants peace more than the citizens of Ukraine! That is why we are jointly seeking the path to a lasting and just peace. Ukraine can rely on Germany – and on Europe. French president Emmanuel Macron: Russia is the aggressor, and Ukraine is the aggressed people. I think we were all right to help Ukraine and sanction Russia three years ago, and to continue to do so. We, that is the United States of America, the Europeans, the Canadians, the Japanese and many others. And we must thank all those who have helped and respect those who have been fighting since the beginning. Because they are fighting for their dignity, their independence, their children and the security of Europe. These are simple things, but they're good to remember at times like these, that's all. European commission president Ursula von der Leyen: Your dignity honors the bravery of the Ukrainian people. Be strong, be brave, be fearless. You are never alone, dear President. We will continue working with you for a just and lasting peace. Donald Trump is considering ending military aid to Ukraine after his heated exchange with Volodymyr Zelensky, according to reports. The US president is considering halting military aid shipments to the war-torn country, according to the Washington Post. During their Oval Office meeting in front of the world's media, Mr Trump told his Ukrainian counterpart: 'You're gambling with World War Three, and what you're doing is very disrespectful to the country that's backed you [the most].' Mr Trump wrote on his Truth Social platform: 'I have determined that President Zelenskyy is not ready for Peace if America is involved, because he feels our involvement gives him a big advantage in negotiations. Fourteen Democratic governors have released a statement in solidarity with Ukraine. The statement was signed by more than half of the party's 23 governors. In it, they said Mr Trump and Mr Vance used the Oval Office to 'berate' Zelensky 'for not trusting Vladimir Putin's word.' 'Americans must protect our strong democratic values on the world stage instead of undermining President Zelensky's work to fight for his nation and the freedom of his people after being invaded by Russia,' they said. Those who signed the statement were: Andy Beshear of Kentucky, Tony Evers of Wisconsin, Bob Ferguson of Washington, Maura Healey of Massachusetts, Kathy Hochul of New York, Laura Kelly of Kansas, Michelle Lujan Grisham of New Mexico, Janet Mills of Maine, Phil Murphy of New Jersey, JB Pritzker of Illinois, Josh Shapiro of Pennsylvania, Josh Stein of North Carolina, Tim Walz of Minnesota and Gretchen Whitmer of Michigan. President Zelensky 'held strong' against Donald Trump, according to an ally back home. Oleh Syniehubov, the governor of Kharkiv, said the Ukrainian president was insistent that no peace deal could be made without assurances for Ukraine's security against future Russian aggression. Mr Syniehubov said: 'Our leader, despite the pressure, stands firm in defending the interests of Ukraine and Ukrainians. … We need only a just peace with security guarantees.' Russian drones struck a medical facility in Ukraine's second largest city, Kharkiv, injuring at least five people, according to local officials. Regional governor Oleh Syniehubov said eight Russian drones had hit civilian areas in three central districts of the city on Friday. Mr Syniehubov said five people were injured and more than 50 people were evacuated from the medical facility. Ukraine's air defences destroyed 103 of 154 drones launched by Russia in its overnight strike, Kyiv's air force said on Saturday. The other 51 drones were 'locationally lost', it said, likely as a result of electronic jamming. Australian Prime Minister Anthony Albanese said his country will 'stand with Ukraine' for as long as needed. Mr said: The people of Ukraine are fighting not just for their own national sovereignty, they are fighting for the international rule of law. We will continue to stand with Ukraine for as long as it takes because this is the struggle of a democratic nation versus an authoritarian regime led by Vladimir Putin, who clearly has imperialistic designs not just on Ukraine but throughout that region. Canberra's relations with Moscow have been tense for years. Australia opposed the Russian invasion of Ukraine in February 2022, condemning it as illegal and immoral, and has committed Aus$1.5 billion (US$931 million) to Ukraine's war effort. Volodymyr Zelensky said his relations with the United States can still be repaired. 'Of course,' Zelensky said when asked in a Fox News interview if the relationship with Trump could be salvaged. US-Ukrainian ties are about 'more than two presidents,' he said, adding that Ukraine badly needs Washington's help in the fight against Russia's far bigger and better-armed military. Zelensky said: 'It will be difficult without your support.' The row saw European leaders scramble to voice support for Ukraine after Zelensky was made to leave the White House early and without signing a minerals-sharing deal seen as vital to an eventual US-brokered truce. Emmanuel Macron has been accused of blocking a €30 billion weapons programme for Ukraine despite promising Donald Trump that Europe would step up its support for Kyiv. The 'enhanced EU military support to Ukraine scheme' was drawn up in response to the US president's demand for Europe to carry a greater share of the burden for backing Ukraine's defence against the Russian invasion. The plan, outlined in a paper seen by The Telegraph, aims to deliver 1.5 million artillery rounds, precision-strike missiles, air-defence systems, drones and provide training for Ukrainian recruits this year. Read more: Macron 'blocking' €30bn EU weapons programme despite promise to Trump Now we know not to be fooled. Donald Trump might have played the gracious host when he received Sir Keir Starmer in the White House; no doubt the lunch of grilled sea bass and winter green salad was delicious. He gave the Prime Minister every reason to be delighted by his victories. The President will allow the British to give away their own territory in the Indian Ocean. He will permit them to fete him on a state visit. He might just exempt Britain from America's new tariffs, which means keeping our trading arrangements as they are. And Trump thinks the Prime Minister is 'terrific' and his wife 'beautiful'. But beneath the surface no amount of warmth or hospitality could disguise one hard fact. America is now trying to settle the fate of Europe's biggest country, Ukraine, in direct talks with Russia from which Ukrainians and all other Europeans are excluded. Read more: What Britain must now do to survive in Trump's new world order A Republican senator has criticised Donald Trump after his public spat with Volodymyr Zelensky in the Oval Office, accusing both parties of leaving statesmanship 'at the door'. John Curtis, the senator for Utah, said the shouting match was a 'win for Putin'. The row between Donald Trump and Volodymyr Zelensky has rocked Sir Keir Starmer's preparations for a summit with European leaders on Sunday. The Prime Minister is due to convene a gathering of leaders at Downing Street, aimed at planning for how to police a future Ukraine peace deal. Downing Street on Friday signalled that Sir Keir – who has tried to position the UK as a bridge between Europe and America – had sought to smooth over relations between Ukraine and the US following the White House blowout. A No 10 spokeswoman said the Prime Minister 'retains unwavering support for Ukraine, and is doing all he can to find a path forward to a lasting peace based on sovereignty and security for Ukraine'. Volodymyr Zelensky said on Friday night that his relations with the United States can still be repaired. 'Of course,' Mr Zelensky said when asked in a Fox News interview if the relationship with Mr Trump could be salvaged. US-Ukrainian ties are about 'more than two presidents,' he said, adding that Ukraine badly needs Washington's help in the fight against Russia's far bigger and better-armed military. 'It will be difficult without your support,' Mr Zelensky said on Fox - Trump's favourite news channel. His olive branch came hours after the extraordinary Oval Office scene where the years-long US policy of massive support for Ukraine's fight against the Russian invasion collapsed in a shouting match. Thank you for joining us today as we cover the latest developments in the row between Donald Trump and Volodymyr Zelensky and what it might mean for the Ukraine peace deal. Here's what happened on Friday: A televised shouting match broke out between Donald Trump and Volodymyr Zelensky in the Oval Office Talks between the US and Ukraine abruptly ended as Mr Zelensky was asked to leave the White House Mr Trump told Ukraine's president: 'Come back when you're ready for peace' The clash has raised major questions about peace in Ukraine and the future of European security Sir Keir Starmer expressed his 'unwavering support for Ukraine' after speaking with both Mr Trump and Mr Zelensky following their heated exchange Read more: Trump tells Zelensky: 'Come back when you're ready for peace' Analysis: 'What kind of diplomacy are you speaking about JD' asked Zelensky. It proved a mistake And you can listen to a special episode of our award-winning podcast 'Ukraine: The Latest': Broaden your horizons with award-winning British journalism. 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