November 19, 2025
Under former President Joe Biden, the United States had been a major supporter of Ukraine, handing more than €100 billion to Kyiv in cumulative financial, humanitarian and military aid. In 2024, the US gave more to Ukraine than all of Europe combined. That has changed since US President Donald Trump took office, with Washington halting most forms of aid to Ukraine (it does still offer some military support, and has handed weapons to Ukraine via money allocated during the Biden administration). Europe has tried to fill the void, as the graphic shows, but there are concerns the European money well is starting to dry up.
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The Guinea-flagged oil tanker MT Bandra, which is under sanctions, is partially seen alongside another vessel at El Palito terminal, near Puerto Cabello, Venezuela, on December 29, 2025.
REUTERS/Juan Carlos Hernandez
There have been several geopolitical shocks this year, yet none have stopped oil prices from plunging, showing how oil markets have become more risk tolerant.
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In this "ask ian," Ian Bremmer analyzes Trump’s recent meeting with Zelensky and how close (or far) Russia and Ukraine are from a peace deal.
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