Russia stages new peace theatrics as Dmitriev heads to Miami, Brussels deadlocks over using frozen Russian assets, and Washington quietly operationalizes a $150M U.S.–Ukraine reconstruction fund to anchor future investment.

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In this episode:

• Dmitriev's Stall Tactics: Putin's envoy heading to Miami for Witkoff-Kushner briefing; Moscow engineering diplomatic delay while vowing to "extend gains"; classic Russian pattern shifting pressure to Kyiv
• Brussels Asset Battle: EU summit deciding €210B frozen assets plan; Belgium blocking demanding liability guarantees; €185B in Brussels Euroclear; Russia threatening lawsuits; von der Leyen vows solution; Ukraine needs $159B by 2027, budget depletes April
• DFC Fund Operational: U.S.-Ukraine Reconstruction Investment Fund ready with $150M capital; first investments 2026; targets critical minerals/energy/infrastructure; Alvarez & Marsal appointed; military assistance converts to shares; validates Ukraine long-term investment opportunity
• Season Finale: Taking holiday break, returning 2026 with new season

Referenced Sources:

"Kremlin says preparing for contacts with US on Ukraine" (reuters.com)

"Putin warns Russia will seek to extend gains if West rejects terms" (ft.com)

"EU leaders clash over frozen Russian assets at Brussels summit" (politico.eu)

"DFC Announces U.S.-Ukraine Reconstruction Investment Fund Fully Operational and Poised for First Investments" (dfc.gov)

"Ukraine-US Investment Fund Finalizes Policies Ahead of 2026 Launch" (kyivpost.com)

Ukraine offers a major NATO compromise in Berlin talks as Russia holds hard territorial demands, Kyiv sinks a Russian submarine with an underwater drone, and domestic weapons production scales to $35B in 2025.

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In this episode:

• Berlin Progress: 5-hour talks with Witkoff-Kushner-Zelenskyy-European leaders; Ukraine offers NATO membership drop for Article 5-like guarantees; 20-point framework discussed; Putin demands Russian forces stay in demilitarized Donbas and full territorial withdrawal
• Historic Sub Strike: First underwater drone destruction of submarine; Sub Sea Baby hits Kilo-class in Novorossiysk; $300K vs $400M cost asymmetry; 4 Kalibr launchers offline; Black Sea Fleet degraded to 67% capacity; sanctuary basing obsolete
• Defense Production Surge: $35B capacity from $1B in 3 years; 4.5M drones planned 2025; 500 companies; 96% localization; Neptune/Flamingo/missile-drones in serial production; shift to AI/autonomous systems; $60M+ VC investment; Europe co-production partnerships

Referenced Sources:

"Zelenskyy meets with Witkoff and Kushner for talks aimed at ending Ukraine-Russia war" (cbsnews.com)

"Witkoff and Kushner Meet with Zelenskyy – Negotiators Discussed Security Guarantees for 5 Hours" (theconservativetreehouse.com)

"Ukraine drops NATO goal as Trump envoy sees progress in peace talks" (cnbc.com)

"Ukraine Says Its Drones Hit Russian Submarine in Novorossiysk" (bloomberg.com)

"In a first, Ukraine says it struck Russian submarine in Black Sea port with underwater drones" (cnn.com)

"Ukraine claims first Sea Baby underwater drone strike on Russian submarine" (kyivindependent.com)

"Ukraine Forecasts $35B in Domestic Defense Production for 2025" (thedefensepost.com)

"Drone production in Ukraine has increased hundreds of times" (dev.ua)

Territorial concessions re-enter the diplomatic conversation as U.S. and European peace frameworks diverge, while Ukraine’s defense-tech ecosystem breaks records with $105M in early-stage capital—cementing its rise as Europe’s defense innovation hub.

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In this episode:

• Territory Talks: Italy and U.S. officials press Kyiv to show “flexibility,” even as new intelligence says Russia isn’t ready to compromise.
• Split Strategy: Europe and Washington advance competing security frameworks, leaving Ukraine squeezed between two visions of “peace.”
• Defense-Tech Boom: Ukrainian startups raise over $105M, accounting for one-third of Europe’s early-stage defense investment — signaling a major shift in global defense innovation.

Stay informed. Stay ahead. The Ukraine Bulletin delivers clarity in five minutes.

Referenced Sources

• Pressure on Ukraine over territorial concessions (politico.eu)
• U.S. intel sees no sign Russia will compromise (nbcnews.com)
• Italy pushes for ceasefire framework with concessions (repubblica.it / euractiv.com)
• Lavrov comments on Western “acceptance of new realities” (reuters.com)
• EU drafts alternative security guarantees plan (ft.com)
• U.S. seeks early 2026 diplomatic breakthrough (axios.com)
• Ukraine defense-tech investment data — Fedorov announcement (linkedin.com)
• European early-stage defense investment benchmarks (dealroom.co)
• BRAVE1 investment and support structure (united24media.com)