The "coalition of the willing" signed a declaration in Paris on security guarantees for Kyiv.

The US may promise Ukraine support in the event of a new Russian attack — Bloomberg

Oil States International, Inc.

Prices are also affected by tensions surrounding Venezuela and China's willingness to purchase more raw materials.


Oil prices rose by 2%. The market saw no progress in the negotiations between Trump and Zelensky.

Revolut did not obtain a banking license in Ukraine, the NBU said in February

Revolut warned clients in Ukraine about account closures - Forbes Ukraine

Oracle Corporation

TikTok has launched a process to separate from ByteDance through a deal with Oracle and U.S. investors, seeking to remove political and regulatory risks in the United States. The Bank of Japan raised its key rate to a 30-year high amid the country's high inflation and record government debt. These and other topics - in our review of key events for the morning of December 19.

The main thing for the morning: the fate of TikTok in the U.S., a record rate in Japan and €90 billion for Ukraine

Saab AB (publ)

RENK Group AG

Rheinmetall AG

Industrial giants Saab, Rheinmetall and Renk were among the leaders of the decline

Ukraine peace talks drive down European defense stocks

Next week, the European Council will revisit discussions on how it should use frozen Russian assets to support Ukraine. The topic jeopardizes confidence in the euro, economists warn. But Sergey Romanchuk, a financier and member of ACI's Foreign Exchange Committee, believes that the market is not taking this threat seriously yet. There are four reasons for this.

Protecting the euro: what happens if the EU uses frozen Russian assets

On Wednesday, December 10, Kiev sent Washington an updated 20-point peace plan

Zelensky allowed a referendum on the territories. Trump demands decisions before Christmas

Ukraine's U.S. currency-denominated government bonds jumped to their highest level since February amid signs of progress in the peace settlement, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-11-24/ukraine-bonds-lead-eastern-european-assets-higher-on-peace-talks">reported</a>. Bonds maturing in 2029 rose 3 cents on the dollar and are trading above 72 cents. Bonds maturing in 2035 and other near-term issues were also among the leaders of growth among emerging market debt instruments on Nov. 24.

Ukrainian bonds and Eastern European currencies rise amid peace process

White House and Kiev prepare a refined draft peace agreement, but there is "a lot of work" ahead

Rubio says 'productive talks' with Ukraine on peace plan

Kiev's major European allies sided with President Vladimir Zelensky in rejecting key elements of a U.S.-Russian plan to end the war in Ukraine that involves significant concessions to Russia, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-11-21/ukraine-and-european-allies-reject-key-parts-of-us-russian-plan">writes.</a>

Europe and Kiev reject key points in plan to end Ukraine war

Hensoldt AG

Leonardo S.p.a.

European defense stocks on Friday fell to their lowest levels since early September after Ukrainian President Vladimir Zelensky <a href="https://oninvest.com/article/kiev-soglasilsa-na-peregovory-s-trampom-po-novomu-mirnomu-planu-v-nem-28-punktov">said</a> he was ready to work "honestly" on a U.S.-backed plan to end the war, Reuters <a href="https://www.reuters.com/business/aerospace-defense/european-arms-makers-stumble-ukraine-peace-push-2025-11-21/">writes</a>.

European defense securities fall to lowest since September over peace plan

The sell-off in European defense stocks, which have fallen about 10% over the past month, was "unwarranted and provides a compelling entry point into the sector," according to JPMorgan analyst David Perry. His opinion <a href="https://www.marketwatch.com/story/the-wars-not-over-jpmorgan-says-investors-were-too-quick-to-sell-europe-defense-stocks-on-hopes-of-ukraine-peace-0205739a?mod=newsviewer_click">is published by</a> MarketWatch.