Escalating Ukraine-Russia Conflict, Global Tensions Rise

A Turkish car ferry was damaged in an air strike at the Ukrainian port city of Odesa, with Ukraine's President Volodymyr Zelensky blaming Russia for the attack. The strike occurred shortly after the ship docked at the Chornomorsk port, carrying 'essential food supplies.' Russia has not commented on the incident. The attack came hours after Turkish President Tayyip Erdogan suggested a limited ceasefire for energy facilities and ports to Russian President Vladimir Putin. Russia has resisted calls for a ceasefire and has threatened to cut 'Ukraine off from the sea' in response to Kyiv's maritime drone attacks on Russia's 'shadow fleet' tankers.

At least two people were killed in a drone attack in Russia's southwestern Saratov region, while Ukraine's energy infrastructure was targeted, leaving over a million people without electricity. The attacks came as U.S.-led peace talks on ending the war press on, with Ukraine's President Volodymyr Zelenskyy set to meet with German leaders on Monday. Russia's defense ministry claimed to have shot down 41 Ukrainian drones, while Ukraine reported that Russia launched drone and missile strikes on five Ukrainian regions, targeting energy and port infrastructure. The conflict continues with both sides having different stances on territorial control and ceasefire conditions.

European leaders are set to meet in Brussels amid multiple challenges, including criticism from President Donald Trump, who called the EU a 'decaying group of nations.' The summit will focus on sharpening military capabilities and supporting Ukraine in its war with Russia. The European Central Bank is expected to hold interest rates steady at its final meeting of the year. Tensions between the EU and the US are running high, particularly over the EU's targeting of American tech giants. Despite these challenges, there are positive signs, with the ECB likely to lift its growth forecasts.