UK, France support Ukraine on 'just peace' and funds
Downing Street says Prime Minister Keir Starmer spoke with Ukraine’s Volodymyr Zelenskyy and France’s Emmanuel Macron on Monday, 1 December 2025. Two phrases in the official readout matter for classrooms and newsrooms alike: a “just peace” for Ukraine, and using the value of immobilised Russian sovereign assets. The note also flags recent talks with the NATO Secretary General.
So what actually happened? The three leaders compared notes on a burst of diplomacy, agreed to work towards long‑term security and a just peace, discussed ensuring Ukraine gets equipment “for as long as it takes”, and explored tapping the value of immobilised Russian sovereign assets for Ukraine’s regeneration and Armed Forces. They plan to stay closely coordinated in the coming days.
What “just peace” means in plain English: it signals a settlement that is lawful and fair, not simply a freeze in fighting. In practice, leaders use it to mean outcomes that respect Ukraine’s borders and sovereignty, include accountability for war crimes, and come with credible security guarantees so civilians aren’t asked to endure the same terror again.
Why NATO is in the conversation: NATO is a defence alliance of 32 countries, with Sweden joining in March 2024. The NATO‑Ukraine Council lets Ukraine sit with Allies as an equal participant to coordinate support and discuss its path towards membership when Allies agree and conditions are met. When the UK Prime Minister briefs the NATO Secretary General, he is checking alignment on security help, training, and long‑term planning.
What immobilised Russian sovereign assets are: after Russia’s full‑scale invasion, the EU “immobilised” (froze) a large share of the Central Bank of Russia’s reserves held in Europe. Those assets remain Russia’s in law, but they are locked in place. Because they sit at financial institutions known as central securities depositories (CSDs), they generate extraordinary revenues (think: interest). EU rules now direct those net windfall profits to Ukraine, not the principal itself.
How the money is already flowing: the Council of the EU decided in May 2024 to channel these net profits to Ukraine’s defence and reconstruction. An initial €1.5bn was made available in July 2024, followed by around €2.1bn in April 2025. Early on, most funding went via the European Peace Facility for military support; new rules later shifted the split so 95% of profits service EU‑G7 loans to Ukraine and 5% go to the Peace Facility.
Loans backed by those profits: in October 2024 the EU set up a Ukraine Loan Cooperation Mechanism and an exceptional macro‑financial assistance loan, with repayments covered by future windfall profits from immobilised assets. In January 2025, the European Commission disbursed the first €3bn under the G7 loan arrangement on this basis. This is how leaders can talk about “using the value” of the assets without touching the principal.
Why this route (profits, not principal) matters: confiscating a state’s central‑bank reserves is legally fraught and could undermine financial stability. The EU’s approach-use the extraordinary profits while keeping the principal frozen-aims to support Ukraine now and preserve legal footing for future reparations claims. That’s the policy space today’s call refers to.
If you’re teaching this, try a quick media‑literacy drill: ask students to annotate the UK government readout and underline every term that needs definition (“just peace”, “long‑term security”, “immobilised assets”); then invite them to draft a two‑sentence “what it means” box for a younger reader. Follow up by mapping which institutions decide what-national governments, NATO bodies, the EU Council-and what democratic oversight exists.
What to watch next: more coordination between Kyiv’s allies on air defence, training commands, and steady finance; further EU transfers of windfall profits as they accrue; and whether G7 and EU leaders expand or adjust the loan model. The leaders’ pledge to stay in close touch suggests further announcements are possible if legal and financial pieces line up. Keep an eye on official EU and NATO updates-and on Downing Street notes like today’s.