Ukrainian President Volodymyr Zelensky made a counter to the US’s original plan for ending the Russia-Ukraine war on Wednesday, one that includes several concessions. Among them are allowing the US to recognize Russian-occupied territory, and granting the US and Russia control over the fate of frozen Russian assets. Still, US President Donald Trump isn’t happy: he had a heated phone call with European leaders yesterday, arguing Zelensky needs to be “realistic” about a deal. On the other hand, the Ukrainian public has indicated they don’t want Zelensky to make major territorial concessions. Ukrainian, US and European officials will put their heads together in Paris on Saturday to try to reach consensus on a peace plan.
After weeks of street protests over graft and wasteful spending, Bulgaria’s government has resigned. The unrest was touched off in November by a proposed budget that increased taxes and boosted social spending. Bulgarians, unwilling to hand over any more of their income to the EU’s most corrupt member state, poured into the streets. Although Prime Minsiter Rosen Zhelyazkov’s cabinet scrapped the proposal, the demonstrations continued, forcing him to resign Thursday, just before a no-confidence vote that he was sure to lose. Bulgaria, which is set to adopt the Euro as its currency in January, has already been through seven national elections in the past four years. Another now seems likely.
The US military seized a Venezuelan oil tanker off the coast of the country on Wednesday. The ship, which was delivering oil from a state-owned company to Asia, has frequently faked its location on trips to countries under US sanctions like Iran. The Venezuelan government has accused the US of “blatant theft,” but a federal judge in the US issued a seizure warrant for the ship’s link to Iranian oil smuggling. Venezuela’s economy is heavily dependent on oil, and the move marks an escalation in the US’s pressure campaign to oust Nicolas Maduro.
At the 2026 US Canada Summit in Toronto, hosted by Eurasia Group and RBC, Ian Bremmer breaks down the idea of a US-China “Thucydides Trap,” where rising and dominant powers collide.
The interim agreement to end the war, signed by both sides on Wednesday, appears to tilt toward Iran. But the regime remains vulnerable.
On June 14, the US and Iran announced a deal to end the war. A signing ceremony is set for Friday. The terms include an immediate ceasefire on all fronts. With both sides spinning the deal as a victory, there are plenty of ways for this to go wrong.
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