EU's Massive 90 Billion Euro Ukraine Fund Approved

THE BRIEFING 

Here’s what’s happening in geopolitics today.

From a new Russia–North Korea bridge taking shape to fresh violence in Lebanon, it’s a day where geopolitics and security risks are front and centre.

Europe sees a breakthrough as Ukraine restarts Russian oil flows, while the UK strikes another deal with France to curb Channel crossings. Meanwhile, a deadly attack on a mining site in Pakistan is a reminder that instability continues to simmer well beyond the major headlines.

In today’s deep dive, we focus on the massive financial injection that Ukraine is set to receive across two years.

THE LAST 24 HOURS IN GEOPOLITICS 

1. North Korea, Russia aim to open new road bridge soon
North Korea and Russia are preparing to open a new road bridge across the Tumen River, marking the first direct road link between the two countries. The project, agreed during President Vladimir Putin’s 2024 visit to Pyongyang, is expected to boost trade, tourism and cross-border movement, with the bridge capable of handling hundreds of vehicles per day. Officials say the crossing could open as early as June, highlighting the deepening economic and strategic ties between Moscow and Pyongyang.
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2. Israeli attacks on Lebanon kill at least five people, including journalist
Israeli airstrikes in southern Lebanon have killed at least five people, including a local journalist who was reporting from the area. The journalist was among a group hit during the strikes, with another reporter injured, while Lebanese officials said rescue efforts were delayed amid continued fire. The Israeli military said the strikes targeted Hezbollah-linked positions and denied deliberately targeting journalists, as tensions continue despite the ceasefire.
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3. Ukraine restarts Russian oil to Europe, unblocking 90-billion-euro EU loan
Ukraine has resumed the transit of Russian oil to Europe via the Druzhba pipeline, restoring flows to countries including Hungary and Slovakia after months of disruption. The restart prompted Hungary to lift its veto on a €90 billion European Union loan for Ukraine, clearing the way for approval of a critical financial support package for Kyiv. The funding is intended to help cover Ukraine’s budget and military needs through 2027, with officials describing the breakthrough as a significant step in easing both energy and financial tensions linked to the war.
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4. UK to pay France another £660m to curb Channel crossings  
The United Kingdom has agreed to pay France up to £660 million over three years as part of a new deal aimed at reducing migrant crossings across the English Channel. The funding will support expanded French enforcement efforts, including additional police, surveillance capabilities and operations targeting people-smuggling networks, with part of the money tied to performance outcomes. The agreement replaces a previous arrangement and reflects continued efforts by both countries to curb irregular migration, though similar measures in the past have faced criticism over their effectiveness.
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5. At least nine people killed as gunmen attack mining site in Pakistan
At least nine people have been killed after gunmen attacked a copper and gold mining site in Pakistan’s southwestern Balochistan province. Local officials said the victims included workers and security personnel at the site, with the attack taking place in the Chagai district, a region long affected by insurgent activity. Security forces later secured the area and launched an operation, while no group immediately claimed responsibility for the assault.
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