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French President Emmanuel Macron, German Chancellor Friedrich Merz, Ukrainian President Volodymyr Zelenskiy, U.S. Special Envoy Steve Witkoff and businessman Jared Kushner, along with NATO Secretary-General Mark Rutte and otherEuropean leaders, pose for a group photo at the Chancellery in Berlin, Germany, December 15, 2025.
by ian bremmer

Europe’s moment of truth

The European Union just pulled off something that, a year ago, seemed politically impossible: it froze $247 billion in Russian central bank assets indefinitely, stripping the Kremlin of one of its most reliable pressure points.