Over 1 million Ukrainian households without power after Russian strikes; ongoing political and financial developments
Over 1 million Ukrainian households are currently without power following overnight Russian strikes targeting energy and industrial infrastructure. Five regions were affected, including Dnipropetrovsk, Kirovohrad, Mykolaiv, Odesa, and Chernihiv. Authorities reported at least five people injured, with ongoing efforts to fight fires and restore supplies.
The Zaporizhzhia nuclear power plant, located in Russian-controlled territory, temporarily lost offsite power due to widespread military activity affecting the electrical grid. While the plant is not operational, it requires a continuous power supply to safely cool its reactors. The plant has since been reconnected to the grid.
Separately, two people were killed in Saratov after a drone strike struck a residential building.
On the diplomatic front, US envoy Steve Witkoff traveled to Berlin to meet with Ukrainian President Volodymyr Zelensky and European leaders to discuss the latest peace proposals. A Christmas peace deal is being pursued, though Zelensky has expressed skepticism about the US plan. Ukraine has stated that elections could be held within 90 days if sufficient security guarantees are provided.
In financial developments, EU authorities have frozen approximately €210 billion in Russian assets held in Europe, with the potential to loan these funds back to Ukraine. Russia plans to sue Euroclear in response. Meanwhile, the Brussels Signal supports rapid EU accession for Ukraine, with draft proposals suggesting membership as early as January 2027; it remains unclear whether Washington has signed onto these plans. Ukraine faces a significant financial gap of about €135.7 billion over the next two years.
